From 'Mission Impossible' To Profitability In 2021, WeWork Chairman Shares Positive Results Despite Pandemic

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The chairman of WeWork, Marcelo Claure, said that the co-working space company was on the verge of being profitable in 2021 after carrying out extensive cost-cutting measures.

What Happened

In an interview with the Financial Times on Sunday, Claure disclosed that after the company laid off 8,000 employees, renegotiated leases, and sold some of its assets, it has been on the path to profit and positive cash flow, a year ahead of schedule, in 2021.

Claure said, “Everybody thought WeWork was mission impossible. [That the company had] zero chance. And now, a year from now, you are going to see WeWork …

Full story available on Benzinga.com

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