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Written by Helen Richards
Once valued at USD 47.3 billion in 2019, WeWork has seen a staggering decline, with shares dropping 99 percent from their peak in April 2021 to less than USD 300 million. WeWork had a significant impact on the market, but now faces uncertainty.
This situation reflects wider global office market instability, coupled with the recognition that flexible work arrangements are here to stay. Will offices need to adapt similarly to retail in order to remain pertinent?
The recent GRI Club meeting, sponsored by Global Talent, saw 200 top industry decision makers from over 35 countries share insights and discuss the global impacts of the emerging WeWork Crisis. The discussion was moderated by Gustavo Favaron, CEO & Managing Partner at GRI Club, and Tal Peri, Head of U.S. East Coast & Latam at Union Investment Real Estate GmbH. Special Guests included: