On Monday, a gi -giving firm was reported to have filed a Bankruptcy Chapter 11 notice of the New Jersey Federal Court for their business in the United States and Canada.
The workforce provider was exposed to a liability between $ 10 billion to $ 40 billion.
Through the official statement of David Tolley, CEO Wework said they were still committed to investing in products, services and to staff with restructuring would be done in conjunction with the rationalization process of rented portfolio.
Wework, a company renting a $ 47 billion work space in 2019 and received a huge investment from Softbank, has experienced a significant corporate fall.
This is due to poor management, pandemic issues and the lack of demand for physical workspace, resulting in the operation of the company.
Not only that, the company shares up to 10 cents alone and traded in an estimated 83 cents before the stock was stopped on Monday.
