Yesterday, SoftBank (OTCPK:SFTBF,OTCPK:SFTBY) revealed its three-step plan to stabilize WeWork (WE), which includes pausing the construction of new offices for three to four years.
WeWork needs to continue cutting costs and terminating unprofitable side businesses through closures or sales, says SoftBank.
WE also needs to focus on increasing gross profits and reducing operating expenses.
Despite its challenging year, WeWork accounted for 69% of the U.S. flex lease activity in Q3, according to new data from real estate firm CBRE.
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