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WeWork reports quarterly loss of nearly $2.1 billion ahead of public listing

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Reuters

(Reuters) -SoftBank-backed office-sharing startup WeWork on Thursday reported a first-quarter net loss of $2.06 billion, as it was hit by restructuring charges while it prepares to go public through a merger with a blank-check firm. WeWork said its business was recovering as more people returned to offices due to easing of COVID-19 curbs, after work-from-home arrangements last year weighed heavily on the company by reducing occupancy and increasing operating costs. Total occupancy ticked up to 50% in the first quarter compared to 47% in the fourth quarter, the company said. WeWork in March agr…

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