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MARCH 8, 2024

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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FEBRUARY 29, 2024

WeWork India has reported a year-over-year revenue increase of 67.58% for the fiscal year ending March 2023. According to a report published by EnTracker , the company’s revenue increase reached Rs 1,314 crore (US$158.5 The report of the revenue surge for the India-based operation comes at a time when the U.S.-based

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MARCH 17, 2022

A recent McKinsey report reveals that what exhausted employees want most—more than increased pay and benefits—is to feel “valued” by their organizations; by leading with empathy, you can draw talent toward you, turning the “great attrition” into the “great attraction.”. Photo by @Hanni/Twenty20.

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APRIL 16, 2024

According to a report published by Reuters , men, individuals over the age of 45, and those without college degrees are leading this push for higher pay. The trends suggest a broader dissatisfaction with the current wage levels amid persistent inflation and a tight labor market that has left many feeling the pinch of higher living costs.

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APRIL 3, 2024

As artificial intelligence (AI) rapidly transforms the workforce, top business schools are overhauling their curricula to ensure graduates are equipped with AI skills widely in-demand by employers.

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MARCH 26, 2024

According to a report published by The Guardian , Neumann’s new property company, Flow, submitted the potential bid for WeWork on Monday. However, a report published by CNBC suggests Dan Loeb’s Third Point was not involved in the offer. It’s reported by CNBC that the bid could increase up to $900 million pending due diligence.

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APRIL 23, 2024

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.

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APRIL 26, 2024

An ad hoc group of WeWork’s noteholders has expressed their ongoing frustration over the perceived stagnation in the company’s bankruptcy case, highlighting the absence of negotiations and any significant progress since they agreed to a hearing adjournment 10 weeks ago. According to a report published by Pitchbook , the group has criticized WeWork’s (..)

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JANUARY 31, 2024

For years, we’ve been told the reason the gender pay gap exists is that women don’t negotiate or advocate for themselves. Why do companies and managers insist on making compensation dependent on someone’s self-confidence level or negotiating skills when, in most cases, neither has anything to do with their job and job performance?

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FEBRUARY 12, 2024

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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FEBRUARY 1, 2024

The official court motion, as reported by BisNow , was filed in bankruptcy court on Wednesday. Additionally, two of those seven landlords are reported to own a location on the new list. WeWork already had plans to reject 67 leases at underperforming locations — with an additional 13 added later , all of which received court approval.

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FEBRUARY 13, 2024

According to a report published by Law360 , the noteholders filed a 43-page motion on Friday citing “fundamental flaws” and expressing concerns over a restructuring plan that appears to disproportionately benefit SoftBank — its largest lender.

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NOVEMBER 7, 2023

The company reports that creditors holding 92 percent of its debt are onboard with the restructuring plan. In WeWork’s statement on the filing, WeWork Chief Executive David Tolley said, in part, “WeWork has a deliberate and value maximizing lease rejection plan that is expected to position the company for operational and financial success.

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SEPTEMBER 6, 2023

Amid staggering losses, speculation of bankruptcy , and still crashing stock prices, WeWork held a brief conference call with landlords Wednesday morning to announce it will renegotiate most of its leases, as reported by The Real Deal. This move is an effort to address its high leasing costs and exit underperforming locations, globally.

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APRIL 24, 2024

According to a report published by The Financial Times , the regulator’s commissioners voted 3-2 on Tuesday in favor of the ban. The prohibition is an update to labor regulations seeking to improve fair competition and employee rights/protections. The FTC initially announced that it was seeking to ban noncompete clauses in January 2023.

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FEBRUARY 15, 2024

According to a recent court filing , the coworking giant, which filed for Chapter 11 bankruptcy last year , is in urgent need of funds primarily to cover rent for the office spaces it provides to customers, as reported by Bloomberg. WeWork’s court filings reveal that most landlords have been cooperative in lease negotiations.

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MARCH 22, 2024

It’s reported that many employers lack formal pay structures and 40% actively discourage salary discussions among employees. However, employees are also encountering major difficulties in negotiating competitive salaries and flexible work conditions. The survey finds that pay transparency also remains a contentious issue this year.

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FEBRUARY 27, 2024

WeWork had argued that landlords could receive payment through alternative methods including letters of credit instead of depleting its cash reserves. It’s reported that WeWork has now successfully renegotiated leases with over 80 building landlords globally, and the company stated that it has saved over $1.5

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JANUARY 19, 2024

According to the Evening Standard , the commercial site known as “The Cursitor” in Holborn, London, is currently in exit negotiations; customers have been informed of its impending closure. The decision reportedly follows the closure of three other WeWork sites in Shoreditch, London. overall. .

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DECEMBER 19, 2023

employers are willing to offer new workers has reached a record high, according to a recent New York Federal Reserve Survey. The data was analyzed in a report published by Reuters, revealing that the average full-time annual wage offer jumped to $79,160 in November from $69,475 in July. The average wage that U.S.

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JUNE 8, 2023

states are experiencing an increase in job openings while the supply of qualified workers diminishes, according to a r ecent report published by LinkedIn. LinkedIn reported that as of May, 37 states in the U.S., What’s going on: A number of U.S.

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OCTOBER 26, 2023

Workers are increasingly leveraging their collective bargaining power to negotiate better terms — driven in part by a tighter labor market, and rising inflation. The tentative agreement with Ford represents a significant triumph for the UAW, securing substantial wage increases, cost-of-living adjustments, and other benefits for workers.

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MAY 2, 2023

According to the National Post, both the government and the union included language regarding remote work in a letter of understanding – laying the precedent for revisiting the topic in future negotiations. Specific language for remote work guarantees was not included in the collective agreement.

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NOVEMBER 28, 2023

WeWork’s recent agreement with real estate developer Hines for the lease of the former Central Bank of Ireland HQ in Dublin, as reported by The Irish Times , includes incentives such as an extended rent-free period and contributions to office fit-out costs.

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OCTOBER 11, 2023

This move by Fitch suggests that a “default-like” process has already commenced for WeWork, as reported by the The Real Deal. The company’s decision to hold payments was reportedly not due to a lack of funds, but was intended as a strategic decision to initiate negotiations with lenders.

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JULY 12, 2023

per share on Tuesday. It was previously reported by the New York Times that Neumann had approached CEO Sandeep Mathrani before Mathrani announced that he was stepping down from the company. It was reported that they discussed a potential investment and debt buyback.

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OCTOBER 30, 2023

The workers’ strikes are reported to have cost GM, Ford, and Stellantis billions in lost production.

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JANUARY 16, 2024

This bold proposal, as reported by Reuters , marks a potential turning point for the Bank of Japan’s monetary policy and has far-reaching implications for the nation’s workforce. This wage hike initiative represents a departure from Japan’s long-standing battle with stagnant wages and deflation.

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JUNE 13, 2023

What’s going on: WeWork’s steep downward spiral has continued as the share price is now below 20 cents, and reports from the New York Times and Business Insider indicate that the company may have squandered previously offered rescue options, leaving bankruptcy as one of the only choices left.

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DECEMBER 28, 2023

While some labor groups have pushed for a four-day workweek during negotiations, this particular police department’s adjustment to a condensed schedule posed several challenges but also presented an opportunity to test the feasibility of such a change across various job roles within the city’s workforce.

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JUNE 23, 2023

What’s going on: Union workers across various industries in the United States are becoming more assertive in their contract demands, rejecting deals negotiated by union leaders with employers. The increased frustration stems from stagnant pay, high healthcare costs, insufficient sick time, and uncertain scheduling, according to Reuters.

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MARCH 8, 2023

It is reported that the talks between WeWork and Yardi revolve around giving WeWork the ability to reorganize its debts, as well as providing a financial cushion for the next several years. SoftBank once valued the company at $47 billion, yet its valuation has drastically sunk to $830 million.

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OCTOBER 30, 2023

According to a TopInterview survey, 57% of respondents reported that they had been left without communication after an interview. The primary concern is being “ghosted” by recruiters or hiring managers, with 57% of respondents reporting that they had been left without communication after an interview.

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DECEMBER 18, 2023

The NLRB is calling for the immediate reopening of the affected stores, rehiring of staff, negotiations with the unionized stores, and financial compensation for the workers who suffered loss of wages and benefits.

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JULY 29, 2023

The new company has been turning the heads of industry experts in the field, not only because of a reported $350 million investment that was made last year by venture capital firm Andreesen Horowitz (a16z), but also because of who is at the helm: Adam Neumann. -based coworking ventures that are expected to enter the market in 2023.

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DECEMBER 7, 2023

A new report of U.S. workers remain confident in their ability to negotiate higher pay. The report suggests that while the labor market is showing signs of cooling, which aligns with the Federal Reserve’s efforts to slow the economy through interest rate hikes, there is still an underlying strength in the labor market.

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DECEMBER 6, 2023

Lamborghini’s recent agreement with unions to introduce a four-day work week for its production workers, as reported by Reuters , marks a first in Europe’s automotive industry and potentially paves the road for others to follow. The four-day workweek was an idea proposed during union strikes of major U.S.

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