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As businesses grapple with the economic uncertainty triggered by President Donald Trump’s tariff plans, WeWork’s CEO John Santora is viewing the situation as an unexpected opportunity for his company.
Speaking at Semafor’s World Economy Summit, Santora discussed how the proposed tariffs, which are expected to increase the price of imported goods, might actually benefit WeWork as businesses remain hesitant to commit to long-term office leases.
“With all the uncertainty around tariffs, who’s prepared to commit to a 10- or 15-year lease with $50 million or $100 million spend?” Santora asked.
He pointed out that tariffs, which could affect global supply chains, have led many companies to hit pause on long-term investments and office space commitments. As businesses are still navigating the financial impact of tariffs, the demand for flexible, short-term office space options is growing — a niche that coworking spaces (like WeWork) are poised to fill.
The potential rise in office renovation costs and the need for new spaces to accommodate return-to-office mandates means many companies are seeking alternatives to traditional, high-cost leases. Santora emphasized that businesses no longer want to lock in large capital expenditures for long-term office leases, especially when the economic outlook remains unpredictable.
“The world business investments are all on a pause right now until you determine what impact tariffs are going to have on your company, your supply chain,” Santora said.
As companies look to meet their in-person office requirements without tying up capital in long-term leases, WeWork has found success by offering flexible, short-term office spaces.
According to Santora, the company’s existing clients are extending their leases, while new customers are seeking temporary spaces. Additionally, many Fortune 500 companies are looking for customized office solutions that don’t require significant upfront investments.
Santora, who took the helm at WeWork in 2024 following its bankruptcy filing in November 2023, is focusing on stabilizing the company after it struggled due to the rise of remote work during the pandemic and larger economic challenges. Since then, WeWork has made significant changes to its business, renegotiating over 190 leases and exiting roughly 170 locations.
With the looming threat of tariffs, Santora sees the uncertainty as an opportunity for WeWork to capture a growing demand for flexible, cost-effective office solutions. As companies adjust to an unpredictable economy, the demand for flexible, short-term office solutions may support WeWork’s recovery and help it respond to changing market dynamics.
