WeWork's future: What to know after the company sounds the alarm on its ability to stay in business
WeWork said last week there was “substantial doubt” about its ability to stay in business, prompting speculation around the future of the troubled workspace-sharing company NEW YORK -- WeWork has sounded the alarm on its ability to stay in business, prompting speculation around the future of the troubled workspace-sharing company. Last week, WeWork warned there was “substantial doubt” about the New York-based company's “ability to continue as a going concern” — which is accounting-speak for having the resources needed to operate and stay in business. WeWork pointed to increased member churn, financial losses and the company's need for cash, among other factors, over the next year. On Friday, the company announced that it would be moving forward with a 1-for-40 reverse stock split in a bid to maintain its listing on the New York Stock Exchange. The value of WeWork shares have plunged since the company went public in October 2021, after a spectacular collapse during its first at...