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In The Loop: WeWork’s Survival Plan, Knotel’s Latest Funding, And More

WeWork Outlines Survival Plan The Guardian reported this week that WeWork has outlined the steps it will take to survive the coronavirus pandemic. The strategy comes after company records indicate that the UK subsidiary racked up losses of £234m in 2019 as demand for its services dried up due to the pandemic. To weather the storm, the coworking company plans to “cut costs by delaying the opening of new offices and putting...

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WPP’s Bruce MacAffer On the Comm Giant’s Real Estate Strategy During and After COVID

Over the past 20 years or so, some of Manhattan’s most game-changing commercial real estate leases were by a single company, a one-time maker of wire shopping baskets. London-based public relations and advertising conglomerate WPP — which stands for Wire and Plastic Products — was behind member advertising agency Ogilvy & Mather’s move to 636 11th Avenue, a trek to the warehouse-dominated Far West Side years before Hudson...