Softbank-backed WeWork’s business has recovered due to easing of COVID-19 curbs, after work-from-home arrangements last year weighed heavily on the company
reported a smaller fourth-quarter loss on Friday, helped by cost cuts and demand for office space from companies switching to a hybrid model of work.
Softbank-backed WeWork’s business has also recovered due to easing of COVID-19 curbs, after work-from-home arrangements last year weighed heavily on the company amid reduced occupancy and higher operating costs. WeWork, which went public in October last year after a near two-year struggle, was aided further by chief executive Sandeep Mathrani’s push to cut costs by exiting unprofitable leases and selling non-core assets.
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