In The Loop: WeWork India, IWG, And Hub Australia

WeWork India announced this week that it expects its revenue to grow this year and to be profitable in 2021.

WeWork India Expects Revenue to Grow in 2020

WeWork India “expects its revenue to grow by 25% this calendar year as demand for flexible workspace remains strong despite COVID-19 pandemic, “ Livemint reported this week. The news comes shortly after WeWork Global invested $100 million in its India arm. In addition to growing revenue, WeWork India expects to become profitable next year. According to reports, the company plans to open a new coworking space in Bengaluru this November, however before signing any new leases, the company says it will focus on acquiring clients. 

IWG Seeks Creditor Protection in Canada

Toronto.com reported this week that IWG “is seeking creditor protection in  Canada precipitated by COVID-19 lockdowns.” According to the report, the flexible workspace company has reached an impasse in negotiations with landlords. “Without creditor protection, the company says it could face a “lockout” from Canadian landlords that could be triggered if the U.S. guarantor for 39 leases files for insolvency in the United States, a move that would affect 3,000 of the 15,000 Canadian occupants.”

The Latest News
Delivered To Your Inbox

Hub Australia Becomes Carbon Neutral

Hub Australia announced this week that it is now officially carbon neutral certified as an organization and product. Hub Australia is the first carbon neutral certified coworking space in Australia. 

Share this article