WeWork cut forecasts earlier this year, and the CEO has pronounced an end to the company’s “spending culture.” Even though WeWork says its profits are stronger than ever, it’s hard to imagine how long that will last.
The community atmosphere offered by operators like WeWork is undeniably appealing, but it’s no longer a novelty. Traditional companies across Chicago are remodeling their offices to embrace a collaborative spirit and recruit young, creative talent. This, combined with a notoriously difficult business model, most likely signals the beginning of the end for co-working spaces.
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