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WeWork Files For Bankruptcy, Shaking Coworking Industry

Allwork

previously a coworking industry titan, has filed for bankruptcy following a long string of financial struggles. In a breaking development that will send shockwaves through the coworking industry, WeWork Inc. WeWork, a pioneer in shared coworking spaces since 2010, has significantly influenced the coworking industry’s landscape.

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UPS and Union Employee Contract Negotiations Come to a Standstill

Allwork

What’s going on: The United Parcel Service (UPS) and the Teamsters Union are currently at a deadlock over negotiations for a new contract, according to Reuters. Despite UPS updating its offer last week, it’s reported that the union has deemed it insufficient.

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“Airbnb for Workspace”: Industrious Moves to Grow with the Flexible Office Market

Allwork

Industrious (one of those competitors) is now reported to have merged its subsidiary Breather with Deskpass — establishing a new combined firm that offers on-demand office spaces akin to what CEO Jamie Hodari calls “an Airbnb for workspace,” according to a recent report published by Business Insider.

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WeWork’s Learning To Share, Reports $1.5 Billion In Rent Savings

Allwork

WeWork continues to press onward through its Chapter 11 bankruptcy proceedings, recently reporting that it has amended more than 60 leases, saving the company at least $1.5 According to a report published by BisNow, central to this strategy is WeWork’s adoption of a revenue-sharing model with its landlord at 830 NE Holladay St.

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SoftBank Faces Legal Heat as WeWork’s Creditors Seek Recovery Amid Bankruptcy Fears

Allwork

Big markets for coworking spaces are becoming increasingly competitive for workspace providers — with WeWork’s recent financial challenges creating opportunities for rivals to expand their presence. According to a report published by CoStar , WeWork recently filed court documents revealing a substantial loss of $153.7

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Don’t Count San Francisco Out Says Industrious CEO

Allwork

According to Industrious CEO Jamie Hodari, the company has plans to expand its footprint across the Bay Area in the coming months as it continues to make an impression on the country’s largest companies. . The post Don’t Count San Francisco Out Says Industrious CEO appeared first on Allwork.Space.

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Creditors Pressure WeWork to Evaluate Neumann’s Flow Proposal During Bankruptcy Challenges

Allwork

However, according to a report published by The Real Deal , WeWork’s unsecured creditors, including many of its landlords, allege that the bankruptcy cases are at a dramatic point. It’s reported that the unsecured creditors claim WeWork has not secured the necessary financing to successfully exit bankruptcy.