WeWork Faces 'Substantial Doubt' About Its Future Amid Years of Losses and Declining Demand

WeWork has posted net losses of hundreds of millions of dollars in recent quarters and its stock price has plummeted.
The company cites concerns about its ability to continue operating due to financial losses, cash needs, and member turnover.
WeWork plans to improve its situation by negotiating cheaper rents, reducing expenses, increasing sales, and seeking additional capital.
The COVID-19 pandemic has contributed to WeWork's struggles by reducing demand for office space.
WeWork aims to transform its business under new leadership after governance issues and a failed IPO attempt in 2019.