Chairman of Wework: the company will make a profit one year earlier than expected next year

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Sina science and technology news on the evening of July 13, Beijing time, according to foreign media reports, Marcelo Clare, chairman of the sharing office giant Wework, said in an interview today that after a turbulent year, Wework will achieve profits in 2021, one year ahead of the company’s previous expectations.
In an interview, klauer said the large-scale cost reduction action helped support the company’s financial situation, while the new coronavirus epidemic also led to an increase in the demand for flexible office space provided by Wework.
“Before everyone thought that our work (profitability) was an impossible task and we didn’t have a chance,” said klauer. But now, in a year’s time, we’re basically going to be a profitable business with incredible diversity of assets. ”
Last year, after a high-profile IPO failed, Wework began to cut costs and expenses. In the past few months, Wework has cut more than 8000 jobs, sold its non core business units and terminated office leases in New York and Baltimore.
With the shift from office to home telecommuting, there has been an increase in the demand for flexible office space provided by Wework for companies that want their employees to have “satellite offices,” or use office space only a few days a week, according to Mr. klauer.
It is reported that Microsoft, Citigroup, MasterCard and the parent company of tiktok signed new leases with Wework last month. (Li Ming)