You are here: Home » International » News » Companies
Business Standard

WeWork halts all new leases with property owners to trim losses: Report

WeWork's parent firm We Company postponed its initial public offering last week after investor scrutiny over widening losses and corporate governance

Reuters 

WeWork helping global mid-sized firms set up shop in India

is halting all new lease agreements with property owners as the U.S. office-sharing startup looks to curtail costs, the Financial Times reported on Thursday citing people briefed on the matter.

Parent firm We Company postponed its initial public offering last week after investor scrutiny over widening losses and corporate governance, as well as a business model that relies on long-term liabilities and short-term revenue.

did not respond to a Reuters request for comment on the report.

First Published: Fri, September 27 2019. 06:32 IST
RECOMMENDED FOR YOU