A few years ago, the company known as WeWork came to establish a place where several large companies or startups could rent a space to house their employees. This name gradually gained its place until it produced large quantities. Income.. But now that working from home has become a new normal, rents have come down, and so these big buildings have lost their relevance in the world of work.
After a $47 billion valuation, the company has unfortunately dropped 99% in the global stock market, which means it’s officially bankrupt, unless someone has a way to recover or acquire it. And yes, as previously mentioned, the decline comes from those who have decided that their employees can perform duties from their respective homes.
The company’s accumulated debt totaled $18,656 million as of last June, and that has impressed many people who bought shares at the time because of the feeling that these spaces will be the offices of the future. Since it was founded in 2010, it took a good turn by setting up the largest buildings in the world, something that would not last long, since the pandemic arrived in 202.
For now they announced that they have negative equity of $3,718 million, but they are desperately kicking to stay afloat, thanks to some business people who find it necessary to maintain the routine of people in the office. However, in some countries they can be permanently deleted, even Mexico is among the possible names.
Editor’s note: I remember working in one of these buildings on one occasion, but it was clear that they needed to be kept full so that the investment in operating them could be seen as a profit. So even if the employed staff is reduced by half, there is not much to do.