WeWork is banking on its corporate-focused future by introducing a new line of workspaces.
In an effort to accommodate growing demand for flexibility from corporations, WeWork will launch WeWork Office Suites. Through this new offering, the operator will provide members with access to more private executive suites and a branded environment, while still offering lease flexibility.
“What we’re hearing from some medium and large companies is that, to consider flexible workspace, they need the space to feel like their own, feel exclusive,” said Ebbie Wisecarver, Global Head of Design at WeWork. “Especially those in industries that demand more formal settings.”
WeWork’s new endeavor comes just days after announcing it would exit 40 locations that were in oversaturated markets, considered obsolete or did not meet the firm’s “design criteria” according to CEO Sandeep Mathrani.
Reliance on the corporate world may become a necessity for coworking operators, as its usual startup audience grapples with inflation’s impact and desire to reduce their expenses.
Although large companies are not immune to the volatile nature of today’s economy, pivoting to a fully-equipped and managed office on flexible terms can provide them with the relief and will to stave off additional losses.
