The situation at WeWork has investors in a frenzy, landlords in a jam and the entire commercial real estate industry on its knees. But for the more than 700,000 WeWork "members" who work at its numerous co-working spaces, the future of the company is an especially pressing question.
WeWork warned investors last week that its losses raise “substantial doubt” in its ability to keep the company afloat, listing bankruptcy as a potential option. In the first six months of 2023, the company posted a net loss of $700 million. While that’s a 40% decrease from its losses the same time last year, it might not be enough to address WeWork’s mounting liabilities, including $13.3 billion in long-term lease obligations and $2.9 billion of long-term debt.
