PARIS, Oct 20 — WeWork’s financial woes and aborted IPO made headlines in 2019, but two years later the office-sharing giant is returning to Wall Street after seeking to renew itself in response to the pandemic.
WeWork hopes to turn the page on the era of Adam Neumann, the co-founder and ex-boss whose antics and temperamental nature brought the company to the brink of bankruptcy. Mathrani and the new leadership team have been on an austerity drive, cutting several thousand jobs worldwide and reducing the number of leases they have.
Those larger firms represent a little more than half of WeWork’s clientele, compared to 42 per cent at the end of 2019.Communications agency Dentsu, which moved from the suburbs to Paris, is one example. “To my surprise, employees are coming back in droves, even more than they could with the new system. It’s not uncommon for us to be at full capacity,” Calmard said.
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