WeWork is set to become a smaller—and potentially rightsized—company. Following a final hearing on its bankruptcy plan Thursday morning, the coworking pioneer will have fewer locations, a new influx of capital, and $4 billion in debt wiped from its books.
In a packed courtroom in Newark, New Jersey, Judge John Sherwood approved WeWork’s restructuring plan. WeWork expects to finally exit bankruptcy in mid-June. The plan also staved off a bid by WeWork’s controversial founder Adam Neumann, who had sought to buy back the company he’d founded before he was infamously ousted.
WeWork’s clean slate will coincide with a new era of working, one in which office workers have pushed back against
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