Flexibility in the workplace has become a common option for workers, but some firms are going further by becoming 100% remote so staff can work from wherever they please.
WeWork Is Shifting The Narrative Where Losses Are Investments
While WeWork gears up for its highly anticipated initial public offering, it is trying to shape its narrative to view its losses as “investments.”
CFO Artie Minson said that the company hopes to emphasize the difference between its investments and actually losing money.
The company said it finished the first-quarter with a $264 million loss, narrowing its deficit by about $10 million from the same time last year. Its revenue has also more than doubled to $728.3 million due to its expansion into new international markets
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Still, public market investors have penalized Uber and Lyft for their billion in losses and inability to become profitable.
WeWork’s model still relies heavily on funding from private investors, which has led them to their $47 billion valuation. Regardless, public markets want to see profits when asking to pay a high price.
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Coworking firms, such as WeWork and Knotel, have been rapidly expanding their footprint in New York’s Flatiron District as it becomes the city’s hub for shared offices.
British brand Established & Sons have introduced four new furniture designs that aim to create a more comfortable workplace, while also being functional to homes.
Condeco’s newest research paper found that 41% of employers offer remote working, thanks largely in part to major technological advancements that are sweeping workplaces.
Industrious is partnering up with national retail and mixed-use developer Seritage Growth Properties to brings its coworking spaces into five of the retailers locations.
Companies have accepted that wellness in the workplace should be prioritized, but the trendiness of it can overshadow what is most effective — starting from the basics.
Sources have revealed that CBRE, the world’s largest commercial real estate services firm, is looking at 3 World Trade Center to house its new coworking brand Hana.
Hoxton Hotel is branching out from traditional hospitality services with the launch of its coworking brand Working From_ at its London Southwark and Chicago locations.
Speaking at the 2019 MIPIM conference, IWG’s CEO Mark Dixon said that companies of various sizes should offer some form of agility in order to attract and retain talent.
As the coworking space sector continues to evolve and grow, experts believe that there will be a 25% growth of these offices within retail properties through 2023.
Ryan Simonetti, CEO of Convene, believes that the firm sets itself apart from the competition by going beyond serviced workspaces and offering more hospitable amenities.