News

WeWork’s owner the We Company has set up a special board committee to decide on a potential financial package from its largest shareholder SoftBank and JPMorgan Chase.

The Executive Centre, Asia Pacific’s leading flexible workspace provider, has opened two new locations in Chengdu and Shanghai as part of its growing footprint in China.

Mental illness can be debilitating to employees who are struggling, so it is the duty of employers to implement the proper workplace tools to cater to these workers.

WeWork is weighing whether it should set up a dreary bond package, or accept an equity investment from SoftBank that would give the Japanese conglomerate voting control.

After its failed initial public offering and resignation of Adam Neumann as CEO, WeWork will reportedly halt its expansion in China, the company’s third largest market.

An Avison Young report revealed that landlords are still being cautious of leasing space to coworking operators, but could potentially benefit from this growing sector.

JPMorgan Chase and SoftBank are expected to partner up to build a refinancing package for WeWork as the coworking firm will likely run out of money by mid-November.

Stephen Scherr, CFO of Goldman Sachs, announced that the bank lost about $80 million on its stake into WeWork during the third quarter, but could still make money on it.

WeWork has identified 1,600 phone booths across its U.S. and Canada operations that had elevated levels of formaldehyde and took 700 more out of service for more testing.

JPMorgan Chase is expected to report its earnings this week, and many will be looking into how WeWork has impacted the bank and whether it can save it from bankruptcy.