Plan Supplement<\/a>. This marks the completion of WeWork\u2019s lease portfolio review in the vast majority of markets, bringing the Company closer to the conclusion of its strategic restructuring.<\/p>\n\n\n\n\u201cWith our lease rationalization across the United States and Canada nearly complete, WeWork is positioned for a strong and bright future,\u201d said Peter Greenspan, Global Head of Real Estate at WeWork. \u201cStrengthening our real estate portfolio could not have been possible without the collaboration of our landlord partners, to whom we are immensely grateful. Their partnership, combined with our improved operational efficiency and unwavering commitment to our members, sets the stage for WeWork\u2019s success in this new chapter.\u201d <\/p>\n\n\n\n
These expected assumptions complete WeWork\u2019s real estate portfolio review in most of its markets across the United States and Canada, including top cities such as Chicago, Denver, Houston, San Francisco, Salt Lake City, Seattle, Vancouver and Washington D.C. In these markets, WeWork will move forward with a real estate footprint that includes its strongest and most popular locations where it plans to operate for the future. <\/p>\n\n\n\n
A key pillar of WeWork\u2019s progress throughout its strategic restructuring has been the rationalization of its lease portfolio. To date, WeWork has determined a path forward at over 97% of its global, wholly-owned lease portfolio, and according to the current business plan, is projected to reduce total rent commitments by over $11 billion. WeWork has previously announced the assumption of 77 leases and, upon emergence, expects to operate more than 170 locations across the United States and Canada and 337 locations globally. <\/p>\n\n\n\n
About WeWork<\/strong><\/p>\n\n\n\nWeWork was founded in 2010 with the vision to create environments where people and companies come together and do their best work. Since then, we\u2019ve become the leading global flexible space provider committed to delivering technology-driven turnkey solutions, flexible spaces, and community experiences. For more information about WeWork, please visit us at wework.com<\/a>.<\/p>\n","protected":false},"author":883,"featured_media":3000075025,"parent":0,"template":"","meta":{"_acf_changed":false,"footnotes":""},"news_tag":[43924],"class_list":["post-3000075024","news","type-news","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"\nWeWork Announces Near-Complete United States and Canada Portfolio, Finalizing Lease Rationalization in Vast Majority of Markets - WeWork Newsroom<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.wework.com\/ideas\/newsroom-landing-page\/wework-announces-near-complete-united-states-and-canada-portfolio-finalizing-lease-rationalization-in-vast-majority-of-markets\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WeWork Announces Near-Complete United States and Canada Portfolio, Finalizing Lease Rationalization in Vast Majority of Markets\" \/>\n<meta property=\"og:description\" content=\"Planned assumption of 89 leases finalizes the Company\u2019s future-ready portfolio in premier markets including Chicago, San Francisco, Seattle, Vancouver and Washington D.C.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.wework.com\/ideas\/newsroom-landing-page\/wework-announces-near-complete-united-states-and-canada-portfolio-finalizing-lease-rationalization-in-vast-majority-of-markets\" \/>\n<meta property=\"og:site_name\" content=\"Newsroom\" \/>\n<meta property=\"article:modified_time\" content=\"2024-08-22T09:11:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.wework.com\/ideas\/wp-content\/uploads\/sites\/4\/2024\/05\/Web_72DPI-WeWork-167-North-Green-Reshoot-7-1.jpg?fit=1199%2C800\" \/>\n\t<meta property=\"og:image:width\" content=\"1199\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.wework.com\/ideas\/newsroom-landing-page\/wework-announces-near-complete-united-states-and-canada-portfolio-finalizing-lease-rationalization-in-vast-majority-of-markets\",\"url\":\"https:\/\/www.wework.com\/ideas\/newsroom-landing-page\/wework-announces-near-complete-united-states-and-canada-portfolio-finalizing-lease-rationalization-in-vast-majority-of-markets\",\"name\":\"WeWork Announces Near-Complete United States and Canada Portfolio, Finalizing Lease Rationalization in Vast Majority of Markets - 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