CNBC reported this week that WeWork may be closing as many as 100 locations worldwide as they try to recover from their recent near bankruptcy. According to CNBC, they are reevaluating as many as 100 leases around the world and deciding which locations they will close.
WeWork has not officially announced that they are closing any locations, and they have not indicated which locations will close. A WeWork spokesperson recently announced they are reviewing all their leases and locations, which opens any and all of their locations up for change.
There is no timeline for these major, but it could happen quickly as they work to save the company. In late November they laid off over 2,400 employees, just a month after SoftBank took over control of the company.
WeWork in Las Vegas Future Unknown
WeWork has 848 locations around the world in 123 cities, with 2 WeWork Las Vegas locations. WeWork opened the Downtown Summerlin location in June of 2019 and the Town Square location in late 2019.
WeWork announced in August 2019 that they planned to go public by the end of the year. In that IPO filing, they reported long-term lease obligations of $17.9 billion, along with a net loss of $900 million for the first six months of the year. They ended up pushing pause on their IPO and ultimately taking a bailout from SoftBank.
The future of WeWork and their Las Vegas locations is unknown for now. We will post updates as they come to keep you in the know about WeWork.