Pay no mind that:
> WeWork entered Japan when office vacancy rates were near a decade low. The supply has tightened since to around 1%, a level not seen since the 1990s, allowing landlords to raise rents, while requiring a deposit of as much as a year’s rent.
They've got a great new product too:
> The new Passport service would give tenants flexible use of desks, community spaces and meeting rooms, amenities for which visiting customers currently have to pay extra. The service is a work in progress, but if adopted, WeWork aims to set aside a certain number of desks at all locations for Passport users, the people said. The move is aimed at increasing occupancy, the key to making locations profitable.
And forget that:
> Moreover, SoftBank itself has been a big contributor to that high level of occupancy. The Japanese conglomerate and its subsidiaries take up about 20% of WeWork’s office space in Japan, the people said. Over the years, WeWork pushed its locations worldwide to attract corporate clients because those contracts are more lucrative and stable. But Japan had a higher proportion of enterprise customers from the start, beating the 40% global average.
At least the layoffs will be humane!
Ahh, those blokes came up with something, which IWG (Regus) offers for decades for a much lower price minus the "cool" factor?