WeWork admits 'substantial doubt' about its viability

WeWork, the multinational office rental and coworking space company, has announced that in the second quarter of the year, it reported losses of $349 million (€318 million), representing a decrease of 39.5% compared to the negative figures recorded by the company in the same period of 2022.

WeWork stated that its viability as an ongoing business depends on the successful execution of a plan aimed at improving the company's liquidity and profitability over the next 12 months. This includes restructuring measures to reduce rental and lease costs, as well as seeking more favorable conditions through negotiations.

In the first six months of the year, WeWork reported losses of $613 million (€559 million), compared to losses of $1.012 billion (€923 million) in the first half of 2022. Despite the losses, revenues increased by 7.1%, reaching $1.693 billion (€1.543 billion).

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