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WeWork’s new CEO, Sandeep Mathrani, is facing a tough challenge: making the office space giant profitable. The company has been struggling financially for years, and it’s unclear whether Mathrani will be able to turn things around.
One of Mathrani’s first moves as CEO was to lay off 2,000 employees. He’s also said that he plans to close underperforming WeWork locations. These are all necessary steps if WeWork wants to become profitable, but they’re also likely to hurt the company’s reputation.
In addition to cutting costs, Mathrani also needs to find ways to grow WeWork’s revenue. He’s said that he plans to focus on expanding WeWork’s presence in China and other emerging markets. He’s also looking into new ways to generate revenue, such as selling WeWork-branded merchandise.
It’s too early to say whether Mathrani will be able to turn WeWork around. But if he’s successful, he’ll be a hero to investors and employees alike.
Sources
www.cnbc.com