WeWork Scrambles To Maintain Cash Amidst The Coronavirus

WeWork’s tattered reputation after it failed to go public could be facing even more damage as it continues to charge full rent for its office space during the coronavirus lockdowns.
Startups in New York and London have voiced frustration about the coworking firm charging full rent and being charged a penalty when trying to cancel their membership. Additionally, WeWork collected annual fees this month at the height of the pandemic
WeWork India, a franchise of the coworking giant, is offering a 70% credit to members and has charged members 30% of the rent to continue paying salaries. While this seems lenient and flexible on the surface, the rent collected essentially amounts to a credit equivalent to 70% of its existing contracts.
Although WeWork continues to collect rent from most of its members, the company has evaded rent itself as it attempts to maintain as much cash as possible.
At the end of 2019, WeWork had $4.4 billion in cash and was expecting a $3 billion tender offer from its largest shareholder SoftBank, but the Japanese conglomerate has since backed out of the deal. Now, the end of WeWork could be fast-approaching.


  1. Double Bonus Spin Roulette at Caesars Online provides a 1xbet special twist to the standard American roulette expertise. In addition to the 0 and 00, there’s a special extensive yellow slot. If the ball lands there, your subsequent spin is free and contains two impartial wheels, supplying you with double the amount of alternatives to win. There are also some advanced bets built into the system, like neighbor bets. American Roulette at Betfair Casino is nice for novices and veterans of the game. Keep an eye on sizzling and cold|the chilly and hot|the chilly and warm} numbers, and make neighbor bets from the simply accessed choices on the underside of the show.


Post a Comment