Most of the closures are expected to happen this month, according to the loss-making company.
WeWork is cutting back on office space in a bid to quit hemorrhaging more cash. The coworking company announced Thursday that it lost $568 million for the third quarter—technically an improvement over Q3 2021, which returned a $802 million loss. This was thanks to revenue climbing 24% year-over-year, but underscores the ongoing challenges that WeWork faces as it seeks to emerge fully recovered from 2019’s near collapse.
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