While WeWork’s catastrophic fall from grace may have poor business management written all over it, the latest bankruptcy filing represents an indictment of the coworking business model as a whole.
The idea of co-working is more relevant today than ever before as flexible work has cemented its position globally. The future of five-days-a-week, in-person work remains debatable–and companies across the country have maintained hybrid work options post-pandemic. This year, 73% of American workers reported working in-office for three or more days a week, with an average of three to four days in-person, according to a McKinsey study. Fully remote employees now only represent 15% of the workforce, a strong indication that hybrid work, while previously dubbed the “new normal,” is here to stay.
