WeWork plans to shut down certain global offices.

According to the BBC, WeWork, the troubled office-sharing company, is set to close some of its buildings worldwide. The company's shares have been plummeting, and there have been reports suggesting that it could file for bankruptcy as early as next week. Although WeWork did not confirm the number of sites closing in the UK, it did announce the closure of a central London building near Blackfriars station. The move is part of the company's plan to improve liquidity and strengthen its balance sheet. WeWork members at another London building have been notified that it will be closing due to being "unprofitable". They have been requested to vacate the premises by the end of November, with WeWork offering alternative workspace options. WeWork is currently facing financial struggles, which have prompted it to postpone debt payments and seek lease renegotiations globally. Although WeWork stated its commitment to the UK and Ireland, it declined to comment on rumors of entering Chapter 11 bankruptcy proceedings in the US. As of June, WeWork had over 700 locations in 39 countries. The company has been grappling with difficulties since its failed attempt to go public in 2019, followed by the departure of its co-founder and the impact of the pandemic. WeWork eventually went public in 2021 with a significantly lower valuation. SoftBank, a Japanese conglomerate, has been injecting billions of dollars into WeWork as it continues to struggle. The company's share price has plummeted by nearly 99% within the past year, and it raised concerns about its ability to continue operations in August, citing challenges from a challenging operating environment and reduced demand.