WeWorkย has provided an update aboutย specific operational metricsย for November, which includes extending its secured credit commitments.ย
WeWorkย and SoftBank agreed to extend the coworking firmโs commitments of $1.75ย billionย of total liquidity from February 2023 to February 2024.ย
Over the months of October and November,ย WeWorkย saw its memberships, occupancy, and desk sales grow.ย
Physical occupancy rates grew to 61% last month, aย two percentageย point increase from October. For incremental net memberships that are anticipated to move in, occupancy would increase to 63% in November from 61% in October.ย
Desk sales grew from 45,000 in October to 55,000 in November, which equates to around 3.3 million square feet.ย
All Access memberships also grew from 38,000 in October to 41,000 in November.
