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 208 days ago
 Source: economictimes.indiatimes.com

Here’s how SoftBank says it’ll fix WeWork and turn it profitable

Quick Summary

WeWork’s new offices, with their low occupancy rates, are like apples that aren’t ready to be eaten. Next, he said he’s slashing expenses and getting rid of all unprofitable WeWork businesses, failing to elaborate on what those were. He added WeWork could generate $1 billion in annual profit in a few years and that the business in Japan is already making money.WeWork does seem to be executing on some of Son’s plans. It’s considering giving up office floors in at least half a dozen locations in Hong Kong, people familiar with the matter said Wednesday. “It will likely be a lengthy process to fix WeWork,” Bloomberg Intelligence analyst Anthea Lai said.

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