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WeWork, the office space sharing giant, is reportedly heading towards a bankruptcy filing. The company's challenges have had a negative impact on the struggling San Francisco office market. WeWork was previously valued at $47 billion but is now on the brink of bankruptcy. The impending bankruptcy raises questions about the future of the $25 billion in office leases that WeWork owes to landlords. Adobe, a major tenant of WeWork, is vacating a significant portion of its office space in San Jose. WeWork's troubles are also affecting the overall outlook for the office market.
The financial services firm still lists San Francisco, its former headquarters, as a corporate campus location, but it's not clear how many employees remain in the city after the latest layoffs. https://t.co/F01dZxpHYJ
"On its face, 2023 seems like the year WeWork was built for ... But instead of flourishing, the company is buckling under the weight of its own hype and bad timing," @loracorkelley writes: https://t.co/UQNWG1Vzgj
WeWork was once valued at $47 billion. Now it's on the brink of bankruptcy. @Daniel_Kalder tracks the downfall of the much-hyped company 👇 https://t.co/TsV8zNqvbD
WeWork's troubles darken outlook for embattled office market https://t.co/lQ1PIGserA https://t.co/6648mSKHo9
'The impending bankruptcy of WeWork serves as a nice capstone for an era of hype and blather.' @Daniel_Kalder on the demise of the office-sharing company, its bullshit artist founder, and a unicorn mania which was built on sand 👇 https://t.co/TsV8zNqvbD
The bridge takes Adobe employees over San Fernando Street. https://t.co/C8Hb6TBncN
The bridge takes Adobe employees over San Fernando Street. https://t.co/tAOsPbmvUP
San Jose-based design software giant Adobe is vacating a major portion of its 100 Hooper office, intended to hold up to 1,500 employees. https://t.co/O0Y2y84Ajz
The definitive account of how WeWork went from a $47 billion valuation to a basket case in just 6 weeks https://t.co/nPEDcy5XhJ
Adobe & San Jose: A 30 year partnership celebrating creativity & community. 🤝 We're excited to unveil new artwork at Adobe HQ & a bridge connecting our campus. In addition, we're granting $1.8M to local nonprofits to drive positive change. https://t.co/2yjZJZqimy https://t.co/S25UlPOxM7
Here’s a walk through of what happens to $25 billion in office leases that WeWork owes to landlords if it files for bankruptcy protection as expected. https://t.co/FLLaTDCvCj
The bridge takes Adobe employees over San Fernando Street. https://t.co/yv26etknGV
WeWork's inevitable retreat is here https://t.co/rZ6T20JseM
Adam Neumann wounded WeWork, and an office market bust finished it off https://t.co/amRBTUK0JD https://t.co/amRBTUK0JD
WeWork Will File for Chapter 11 Bankruptcy Soon https://t.co/YvHkcIwvNa
WeWork appears headed toward a bankruptcy filing, and its challenges continue to pull down a struggling San Francisco office market. https://t.co/B3nDRnpJes
WeWork bankruptcy: One of the biggest startup failures of all time, and venture capitalists haven't learned a thing. https://t.co/UtbHtG4HVC
WeWork will file for bankruptcy as early as next week. This is a huge turnabout for the company, which was previously valued at $47 billion. In this 2019 profile, @reeveswiedeman detailed how founder Adam Neumann built the WeWork empire. https://t.co/AixQfrvcT8
S&P says sharing office space giant WeWork in ‘selective default’ https://t.co/Km3GCqa7dt
Charted: The Rise and Fall of WeWork 📊 https://t.co/jUttqGkHdO https://t.co/Eo8qDB6vpp