Wow, so the news of WeWork not doing well financially was looming long, and now it finally happened, a sweeping layoff. WeWork cut its non-core businesses, WeLive and hte WeWork inspired private school, and is focusing in its primary area, office real estate leasing. Yes, just as I anticipated, WeLive did end up to be a failure in the marketplace, and I was surprised that they did pursue their idea of a WeWork inspired school at all. Cleaning and facilities maintenance jobs were all kept by transferring them to an external real estate services contracting company.
20191122/https://www.nytimes.com/2019/11/21/business/wework-layoffs.html
WeWork thought of a whole lot of great ideas, it’s just that the ongoing problem must hold, that it is very difficult to innovate in real estate, especially “consumer” real estate, due to customer lack of willingness for change. But in the business world, where change is inevitable, obviously people are forced to move at a faster pace.