WeWork: When Were We Working? An All-Time Low for WeWork, a Lossy Startup That Has Formed Too Many Jobs

Despite its reduced size since the Neumann years, WeWork still maintained more than 700 locations in nearly 40 countries, according to a Securities and Exchange Commission filing from June.

In October, WeWork shares fell to an all-time low after the company admitted that it did not have enough cash on hand to make an interest payment on its debt.

In its bankruptcy petition, the company listed about $15 billion in assets and more than $18 billion in debt. There is $100 million in rent not being paid.

It is a new low for the company, which at its peak won billions of dollars in funding from deep-pocketed investors for putting a Silicon Valley spin on the subleasing business of office space to workers.

The founder of WeWork was flamboyant and sometimes barefoot. It attempted to change how people work, but was never fully realized.

WeWork spent gobs of money remodeling office spaces around the world on long-term leases, with the goal of making a profit on very short-term subleases.

It scrambled to renegotiate lease terms with landlords. But it faced increased competition in the world of short-term office space. And with many office workers choosing to work from home, the company failed to regain its footing.

He laid off employees and cut costs as he led the WeWork epidemic which made it harder for companies to lease office space.