WeWork opens record number of buildings in December
Openings come despite financial trouble, executive changes and employee layoffs.
FOX Business' Susan Li discusses WeWork's change in executive management.
Despite financial trouble, executive changes and employee layoffs, WeWork is moving full speed ahead.
The space-sharing firm has set a monthly record for new building openings, according to a company statement.
It has already opened a record 52 new buildings in cities across the world this month, with plans to open more by year-end.
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New locations include 24 in the U.S., Canada, and Israel, and 28 in cities across EMEA, Latin America, China, the Pacific, and Japan.
(AP Photo/Mary Altaffer, File)
"This monthly record number of new building openings is driven by strong demand from companies of all sizes for co-working in our beautiful, functional spaces, and the flexibility of our space-as-a-service platform," said Marcelo Claure, Executive Chairman of WeWork. "WeWork continues to provide an exceptional member experience, as we meet the evolving and global real estate needs of companies across our regions."
WeWork shelved plans for an initial public offering in late September after investors were put off by the company’s losses and had questions about its corporate governance.
Co-founder and former chief executive, Adam Neumann, stepped down in September.
WeWork's largest outside shareholder, Softbank stepped in to pump financing into the company and reorganize the business.
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The company last month said it would lay off around 2,400 employees globally, almost 20 percent of its workforce.