WeWork's Bankruptcy Won't Affect India Operations - CEO
02 Nov 2023
2 Min Read
CW Team
WeWork, the renowned co-working space provider, recently assured that its bankruptcy filing in the United States will have no impact on its operations in India. The CEO of WeWork, Sandeep Mathrani, emphasized that the company's India operations are on a steady recovery path and remain unaffected by the bankruptcy proceedings suffered by its US entity.
WeWork's India operations, which started in 2017, have exhibited impressive growth since their inception. As per Mathrani, the company's performance in India has been encouraging, with demand for flexible office spaces continuing to rise, particularly from small and medium-sized enterprises (SMEs).
Despite facing certain challenges due to the ongoing pandemic, WeWork India is reportedly witnessing a strong rebound in occupancy rates. Mathrani assured stakeholders that India remains a significant market for the company, and it will continue to invest in expanding its presence across major cities in the country.
Mathrani further highlighted that WeWork India has implemented various safety measures and enhanced cleaning protocols in response to the COVID-19 pandemic. These measures, including regular sanitization, temperature checks, and adherence to social distancing norms, have contributed to maintaining a safe working environment for its members.
In addition to the growth of its core co-working business, WeWork India is also focusing on diversifying its offerings. The company plans to introduce new business verticals, such as "WeWork All Access" and "WeWork On Demand," which cater to the evolving demands of its customers in a post-pandemic world.
The company's India operations currently span more than 34 locations across major cities like Bangalore, Mumbai, Delhi-NCR, Hyderabad, and Pune. WeWork India aims to increase its presence by adding six to eight locations every year, signaling its long-term commitment to the Indian market.
While the bankruptcy filing in the US has raised concerns about WeWork's global operations, the company's assurance regarding the safety of its India operations should provide reassurance to both its existing and potential clients. With its strong recovery and commitment to growth, WeWork India aims to continue providing entrepreneurs, startups, and enterprises with flexible and dynamic workspaces suitable for their evolving needs.
WeWork, the renowned co-working space provider, recently assured that its bankruptcy filing in the United States will have no impact on its operations in India. The CEO of WeWork, Sandeep Mathrani, emphasized that the company's India operations are on a steady recovery path and remain unaffected by the bankruptcy proceedings suffered by its US entity.
WeWork's India operations, which started in 2017, have exhibited impressive growth since their inception. As per Mathrani, the company's performance in India has been encouraging, with demand for flexible office spaces continuing to rise, particularly from small and medium-sized enterprises (SMEs).
Despite facing certain challenges due to the ongoing pandemic, WeWork India is reportedly witnessing a strong rebound in occupancy rates. Mathrani assured stakeholders that India remains a significant market for the company, and it will continue to invest in expanding its presence across major cities in the country.
Mathrani further highlighted that WeWork India has implemented various safety measures and enhanced cleaning protocols in response to the COVID-19 pandemic. These measures, including regular sanitization, temperature checks, and adherence to social distancing norms, have contributed to maintaining a safe working environment for its members.
In addition to the growth of its core co-working business, WeWork India is also focusing on diversifying its offerings. The company plans to introduce new business verticals, such as WeWork All Access and WeWork On Demand, which cater to the evolving demands of its customers in a post-pandemic world.
The company's India operations currently span more than 34 locations across major cities like Bangalore, Mumbai, Delhi-NCR, Hyderabad, and Pune. WeWork India aims to increase its presence by adding six to eight locations every year, signaling its long-term commitment to the Indian market.
While the bankruptcy filing in the US has raised concerns about WeWork's global operations, the company's assurance regarding the safety of its India operations should provide reassurance to both its existing and potential clients. With its strong recovery and commitment to growth, WeWork India aims to continue providing entrepreneurs, startups, and enterprises with flexible and dynamic workspaces suitable for their evolving needs.
Next Story
CRCL, IIT Delhi Sign MoU to Boost Science and Ease of Business
The Central Revenues Control Laboratory (CRCL), Central Board of Indirect Taxes and Customs (CBIC), Department of Revenue, Ministry of Finance, and the Indian Institute of Technology (IIT) Delhi signed a Memorandum of Understanding (MoU) toward trade facilitation and improving the ease of doing business. This MoU collaboration aims to foster R&D, innovation, and scientific excellence at CRCL, bolstering trade facilitation and regulatory efficiency.The MoU was signed by Prof. Rangan Banerjee, Director, IIT Delhi, and Shri V. Suresh, Director, CRCL, in presence of Shri Surjit Bhujabal, Speci..
Next Story
CAQM Sub-Committee Activates 27-Point Plan to Improve NCR Air Quality
The daily average AQI of Delhi has been hovering marginally above 200 threshold with forecast of slight improvement since last two days. Today, Delhi鈥檚 daily average Air Quality Index (AQI) clocked 213 (鈥楶oor鈥� category), as per the daily AQI Bulletin provided by the Central Pollution Control Board (CPCB), owing to variable winds. In wake of the average/ overall air quality of Delhi recording 鈥楶oor鈥� air quality category ranging between 201-300, the CAQM Sub-Committee on GRAP met today to take stock of the current air quality scenario of Delhi-NCR. While comprehensively reviewing the a..
Next Story
DoT Launches Financial Fraud Risk Indicator to Boost Cybersecurity
In a major step towards combating cyber fraud and financial crime, the Department of Telecommunications (DoT) has announced sharing of 鈥淔inancial Fraud Risk Indicator (FRI)鈥� with stakeholders- an output from a multi- dimensional analytical tool developed as part of the Digital Intelligence Platform (DIP) to empower financial institutions with advance actionable intelligence for cyber fraud prevention. This will enhance cyber protection and validation checks in case of mobile numbers flagged with this tool when digital payment is proposed to be made to such numbers.What is the 鈥淔inancial ..
