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WeWork is luring more City businesses as offices close because of Covid

WeWork is negotiating with a range of City companies that want more flexible offices because so many staff work from home

WeWork is negotiating with a range of City companies that want more flexible offices because so many of their staff work from home.

Accountant Deloitte – who has proposed moving employees from four UK offices to work from home contracts – is closing his Manchester office and transferring 800 staff to a WeWork building early next year.

New Dawn: WeWork allows companies to sign shorter leases than traditional office tenants

New Dawn: WeWork allows companies to sign shorter leases than traditional office tenants

Other blue chip banks and professional services providers are said to be discussing similar arrangements.

WeWork allows companies to sign shorter leases than traditional office tenants – which typically bind companies for at least three years – and adapts their office spaces at short notice. It offers free beer and other benefits to those who use the work areas.

But it has been hit by an exodus of members during the pandemic, as many companies have canceled leases to save money.

About 70 WeWork offices in the UK have remained open during the crisis. Some members complain that they have not received rental concessions, even though some benefits have been scrapped.

WeWork said it gave rental concessions to the vast majority of those asking for them.

It said it disabled its beer taps in accordance with government guidelines for hospitality businesses.

The company has made massive layoffs because it is fighting to make a profit again.

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