Overview

• 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.