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WeWork Offers Discounts For Tenants On Monthly Leases

WeWork is offering some tenants half off their rent in order to minimize cancellations and potentially boost longer-term leases with clients.

The discounts have been offered to those on month-to-month contracts and are looking to sign a lease for two or three months. According to a securities filing, over a quarter of WeWork’s tenants were on monthly leases.

The outbreak of coronavirus has left several coworking operators with no choice but to cut down on jobs due to increasingly vacant spaces. WeWork in particular cut down another 250 jobs last week to continue lowering expenses and said it does not expect to meet its 2020 financial targets any longer.

ABOUT Aayat Ali
Aayat Ali

Aayat is an editor for the Daily Digest based out of Kentucky. She has worked with local coworking spaces since August of 2017 and enjoys taking her firsthand knowledge to write about the fascinating, constantly evolving world of flexible workspaces. Feel free to reach out to her at [email protected] View all posts by Aayat Ali

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