Pandemic impact leads to decrease in fundraising for WeWork

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WeWork, a multinational flexible workspace company, has reported slower cash collection rates and engagement with its members on payment deferral programs due to Covid-19.

In the ‘events after the end of the reporting period’ section of its recently published results for one of its Irish subsidiaries, WeWork Community Workspace Ireland, the company described some of the effects of the Covid-19 pandemic at a time around the world and in Ireland. The results covered 2019.

He also pointed out he had taken measures to mitigate the operational and financial impact of Covid-19 through “proactive negotiations with owners using a location-by-location approach for postponements and reductions” both in Ireland and worldwide . He added that WeWork’s goal is to create a “leaner, more efficient organization.”


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