WeWork CEO says company is 'here to stay' as it renegotiates 'nearly all our leases'
Publishing timestamp: 2023-09-06 12:23:59
Summary
WeWork's CEO, David Tolley, published a letter outlining the company's plan to renegotiate leases in order to stay solvent. WeWork has been facing financial difficulties since its failed IPO in 2019 and the impact of the COVID-19 pandemic. Tolley emphasizes that WeWork is "here to stay" but acknowledges the need to address the high lease liabilities and achieve a sustainable operating model.
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Keywords: wework inc, business news, business, technology, breaking news: technology, softbank group corp,