WeWork Exits Bankruptcy, Slashes $4 Billion in Debt

The company restructures to focus on fewer locations and small businesses, aiming for sustainable growth.

U.S. bankruptcy judge approves WeWork's Chapter 11 plan, eliminating $4 billion in debt.
WeWork reduces future rent costs by $12 billion, cancelling leases at about one-third of its locations.
New ownership includes Yardi Systems and minority stakes by SoftBank and King Street.
WeWork plans to operate 337 locations globally, with a focus on small businesses and flexible space solutions.
Former CEO Adam Neumann's buyout bid was rejected in favor of the current restructuring plan.