A WeWork-owned coworking space in the Upper West Side of New York City closed unexpectedly, leaving 100 people without a workspace, according to a New York news website. According to the article, they were given no warning and had to find a new place to work in only a few days.
WeWork acquired the coworking space in August 2019, and only a few months later the New York space closed. When the coworking space closed, many of the residents were caught off guard and left without a place to work.
WeWork is closing locations as they try to recover from their near-fatal year.
WeWork also recently sold a meeting space technology company they acquired in 2018 called Teem. Workplace solutions purchased the Utah-based startup from WeWork in January, less than two years after WeWork first bought the company.
WeWork is also planning to close its New York-based private school WeGrow in April. Parents and students are left scrambling to find a new school by the 2020-2021 school year, and employees and teachers are finding themselves unemployed.
It appears WeWork is cutting back where they can to keep the company from going under. They are closing entities and locations that are not essential to their core operations. With a new CEO at the helm, we can only assume they will continue to make changes as they try to stay above water.
Will WeWork Las Vegas close? We don’t know, but only time will tell. We will keep you up to date on which locations are closing and what to expect in the coming year.