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WeWork begins to renegotiate leases globally

Dated on: Monday 11th September 2023

WeWork announced on Wednesday that it has initiated a worldwide effort to engage with landlords to reevaluate almost all of its lease agreements. This move resulted in an increase in its shares, rising as much as 9% during morning trading. With backing from SoftBank, the company expressed its intention to negotiate more favorable terms with its landlords and intends to exit leases for locations that are not suitable or are underperforming. The goal is to redirect these resources towards reinvesting in its other assets.

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