article thumbnail

WeWork Preparing to File for Bankruptcy Amid Massive Debt and Losses

Allwork

WeWork is reportedly preparing to file for bankruptcy as soon as the coming week, according to an insider, due to the company’s significant debt and considerable losses. The flexible workspace provider is contemplating filing a Chapter 11 petition in New Jersey, as per the WSJ’s sources.

Filing 162
article thumbnail

Financial Chaos Amplifies As WeWork Is Days From Filing For Bankruptcy

Allwork

WeWork is on the brink of filing for Chapter 11 bankruptcy protection, which could happen as early as next week. Following the Tuesday afternoon reports, WeWork’s shares plummeted by 37% in pre-market trading, according to CNN Business. During regular trading stock market hours this percentage reached over 40%.

Filing 147
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

EU To Face £370M Bill If WeWork Exits London Office

Allwork

However, after Brexit, the EMA decided to relocate 900 staff members to Amsterdam and sublet the office space to WeWork in 2019. The future of the building is now in question after WeWork filed for Chapter 11 bankruptcy in New Jersey on Nov. While the bankruptcy filing does not directly impact WeWork’s U.K.

2023 212
article thumbnail

WeWork Puts a Pause on Trading, Bankruptcy Could Be Next

Allwork

In New York, for instance, the high cost of housing persists. The company’s struggles can be traced back to a failed IPO attempt in 2019 — which revealed larger-than-expected losses. Before the halt, WeWork’s stock had surged by 35%, despite the company ceasing rent payments at several major properties.

2019 147
article thumbnail

How To Hire And Manage Freelancers, According To Experts

Allwork

They achieve productivity more quickly; they cost less in total, and they’re a more flexible cost; they require less emotional investment from their employers; and they take less time and effort to replace. Source: “The Real Cost of Freelance vs. Full-Time Employees” What is a freelancer? It’s growing.

article thumbnail

The Perils Of Ignoring Sexual Harassment Training

Allwork

A 2019 report on sexual harassment in the state of California revealed that 36% of women and 28% of men had reported incidences of sexual harassment in the workplace. A lack of appropriate response can also cost the company financially (costs including settlement, damages, loss of productivity, etc.). As of 2021 , only 17 U.S.

Training 264
article thumbnail

The Four Horsemen of the Mandated Return to Office

Allwork

It also includes many rank-and-file staff, with publications featuring the stories of employees who quit rather than returning to the office for 3-5 days per week. For example, in 2019, Meta committed to a five-year goal of doubling the number of Black and Hispanic workers in the U.S. and the number of women in its global workforce.

2022 342