16 Reasons WeWork Failed, But Coworking Lives On
Why WeWork Failed — And What It Means for Coworking
The popular coworking space WeWork has had its valuation fall by 90% and its IPO cancelled. I explain why that happened and what it means for the coworking industry.
Published in
22 min readNov 25, 2019
Journalists Peter Eavis and Mike Isaac recently reported in the NY Times that WeWork is collapsing, with impending layoffs of a third of its workforce:
“ WeWork is preparing to cut at least 4,000 people from its work force as it tries to stabilize itself after the company’s breakneck growth racked up heavy losses and led it to the brink of collapse.” — Nov. 17, 2019
While the final number may only be 2,400 layoffs (reported Nov. 21, 2019), or about one-fifth of its work force, WeWork appears to have failed as the spectacular growth company it once appeared to be.
But with coworking widely reported to be “the new normal” — why did WeWork fail, and what does it mean for coworking?
