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WeWork: Covid-19 is an opportunity to be 'more creative than ever'

Campaign 12 Jan 2021 10:19

After a disastrous 2019 when plans for an initial public offering were shelved and controversial chief executive Adam Neumann departed, WeWork may have been handed a lifeline by the changes to businesses' office requirements brought about by the coronavirus pandemic.

According to Amanda Zafiris, head of regional marketing, EMEA, at the flexible workspace company, the crisis has presented an "opportunity to be more creative than ever before".

"The world has been exposed to new, hybrid ways of working, a shift that WeWork is perfectly suited for; our model is designed with all aspects of flexibility in mind," Zafiris told Campaign.

"This has put us in a unique position to support businesses through this workplace transformation."

In an update to its accounts from 2019, the company said it was "facing a period of uncertainty and expects there will be a material impact on global demand for our space-as-a-service offering in the short term, which may adversely affect the 2020 results".

To mitigate the financial impact of Covid-19, there was a delay in the opening of some new locations, a reduction in spend on marketing and professional fees.

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