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WeWork’s Once Robust Cash Reserves Have Dwindled, Raising Chances of Default
source link: https://www.wsj.com/articles/weworks-once-robust-cash-reserves-have-dwindled-raising-chances-of-default-11670905533
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WeWork’s Once Robust Cash Reserves Have Dwindled, Raising Chances of Default
Recession fears, tech-industry job cuts are dragging down demand for co-working desks
Updated Dec. 13, 2022 12:12 pm ET
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WeWork Inc. is trying to turn a profit before its once formidable cash reserves run out. The Federal Reserve’s efforts to fight inflation have made that harder.
Recession fears and tech-industry job cuts are weighing on demand for co-working desks. Meanwhile, money-losing companies such as WeWork are squeezed by higher interest rates, which have made debt harder to come by and the promise of future profit less appealing to investors.
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