WeWork lost $2 billion in quarter, quarter of members in a year
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Free subscriber-exclusive audiobook!“No Rules Rules: Netflix and the Culture of Reinvention”Get it now on Libro.fm using the button below.Office-sharing startup WeWork on Thursday reported that it had lost $2.06 billion in the first quarter of 2021, and more than a quarter of its members over the past year.The co-working company was hit hard by the coronavirus pandemic as more people worked from home and avoided shared offices.WeWork's quarterly revenues fell almost 50% compared to the first quarter of 2020, from $1.1 billion to $598 million, according to its results for the quarter ending March 31.WeWork said restructuring costs were $494 million, an increase from $56 million in the first quarter of 2020.
As said here by Kate Duffy