WeWork loses $2.1bn and a quarter of its members as lockdowns bite Settlement with ousted co-founder Adam Neumann also counted for about $500m about 4 hours ago
WeWork’s losses almost quadrupled to $2.1 billion (€1.7 billion) in the first quarter of this year, as the co-working company haemorrhaged more than a quarter of its members and shelled out hundreds of millions of dollars to restructure its property portfolio. Documents seen by the Financial Times showed lockdowns and remote working in the pandemic drove WeWork’s losses sharply higher from the $556 million net loss incurred in the first three months of 2020, which was mildly impacted by the coronavirus pandemic.