[bctt tweet=”WeWork is gearing up to open a new manufacturing facility for glass and aluminum parts it uses for its signature interiors.” username=”allwork_space”]
The 200,000 square foot facility is located in Edison, New Jersey, about 35 miles from its New York headquarters. Currently, the firm is looking to hire 50 people for the new facility where workers will use “state-of-the-art” equipment according to job postings.
The move into manufacturing is a pivot away from the company’s self-proclaimed tech company standing, but is not the first time the firm has delved into other industries. It also runs a co-living sector, a school, and more.
The company’s pre-IPO filing last month revealed continuous financial losses. In order to reduce overall costs, the firm revealed it would start doing more in-house operations.
“Over the past several years, we have been able to achieve efficiencies in our capital expenditures through a combination of greater economies of scale resulting from the increasing size of our global network, vertical integration of our design and construction process and increased use of technology.”
While the practice is unusual for flexible office operators, Knotel CEO Amol Sarva said it makes sense for those in traditional real estate.