WeWork’s UK revenue more than halved in 2021 as tenants chose to work from home.
In accounts filed yesterday, the flexible office giant reported revenue of £22.4m, down 52% on its £46.7m turnover for 2020.
WeWork International, which collects management and service fees from WeWork offices in the UK and other countries outside the US, blamed the drop in revenue on “less trading activity”, and on the franchising of its Chinese business.
However, losses narrowed to £153.1m, 37% less than the £246.1m loss it recorded in 2020.
