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<keyword id="2918346" type="General" weightage="100" keywordseo="wework" source="Orion">WeWork</keyword> and certain of its entities filed for protection under <keyword id="431977" type="General" weightage="20" keywordseo="chapter-11" source="Orion">Chapter 11</keyword> of the US Bankruptcy Code. The company said its locations outside of the US and Canada are not part of this process. <keyword id="2015202" type="General" weightage="40" keywordseo="karan-virwani" source="Orion">Karan Virwani</keyword>, CEO at <keyword id="4052133" type="General" weightage="70" keywordseo="wework-india" source="Orion">WeWork India</keyword>, said in a statement that WeWork India operates independently of WeWork Global, and "our operations will not be affected in any manner". WeWork's franchisees around the world are similarly not affected by the proceedings in the US and Canada. David Tolley, CEO of WeWork said that now is the time for "us to pull the future forward by aggressively addressing our legacy leases and dramatically improving our balance sheet". "I am deeply grateful for the support of our financial stakeholders as we work together to strengthen our capital structure and expedite this process through the Restructuring Support Agreement. We remain committed to investing in our products, services, and world-class team of employees to support our community," he said in a statement late on Monday. Tolley said about 90% of the company's lenders have agreed to convert their $3 billion of debt into equity. Shares of WeWork that once peaked at over $500 fell to less than $1. WeWork had raised over $22 billion in funding from investors such as SoftBank, Insight Partners, BlackRock and Goldman Sachs. As of June 30, WeWork's real estate portfolio consisted of 777 locations across 39 countries, supporting approximately 906,000 workstations and 653,000 physical memberships. The company said it will continue servicing its existing members, vendors, partners, and other stakeholders in the ordinary course of business. WeWork expects to have the financial liquidity to execute these proceedings and continue business in the ordinary course. As part of the filing, WeWork is requesting the ability to reject the leases of certain locations, which are largely non-operational and all affected members have received advanced notice. WeWorks: India impact Karan Virwani, CEO at WeWork India, said in a statement that WeWork India operates independently of WeWork Global, and "our operations will not be affected in any manner". "It is a separate entity in itself, and we are not a part of this strategic reorganisation process. The Chapter 11 filing does not impact the operations of the global entity as it continues to remain in possession of its business, operating as usual," Virwani said. The process restructures the debts and the leases of WeWork Global in the US and Canada. "WeWork India is backed by majority stake holder Embassy Group, and is committed to investing in the future of our business. We remain fully focused on delivering exceptional and innovative flexible workspace solutions for our members in the region," Virmani added.

WeWork files for bankruptcy but India's operations not affected

Flexible workspace provider <keyword id="4052133" type="General" weightage="80" keywordseo="wework-india" source="Orion">WeWork India</keyword> on Thursday made its first investment in the country, in Bengaluru-based conferencing and collaboration platform <keyword id="15243245" type="General" weightage="100" keywordseo="zoapi" source="Orion">Zoapi</keyword> for an undisclosed sum. Cofounded by Prashanth NS and Chaitanya Vasantarao in 2019, Zoapi is a member of the Intel IoT Solution alliance. The enterprise software-as-a-service (SaaS) solution provider combines four basic needs of a meeting room -- wireless screen sharing, video conferencing, online calendar, and room scheduler. "From an adoption perspective, it is affordable and compatible with numerous video conferencing platforms and devices. With its unique capabilities, this homegrown product has the potential to grow into a global player, implemented across all industries," said <keyword id="2015202" type="General" weightage="50" keywordseo="karan-virwani" source="Orion">Karan Virwani</keyword>, CEO of WeWork India. Built as an open platform, Zoapi supports numerous video conferencing facilities and collaboration applications such as <keyword id="10296" type="General" weightage="50" keywordseo="zoom" source="Orion">Zoom</keyword>, MS Teams, Skype, Google Meet, Webex, Polycom etc. Its interactive calendar features include easy integrations and a seamless conferencing experience. "Over the years, our strategic partnership with WeWork India has generated insightful data about user consumption patterns and needs. We believe that we can globally power conferences and meeting rooms, with our SaaS solution," said Prashanth, Cofounder and CEO Zoapi. Since entering the Indian market in 2017, WeWork India now has over 6 million square feet of assets signed across 40 locations in Delhi-NCR, Mumbai, <keyword id="6354321" type="General" weightage="50" keywordseo="bengaluru" source="Orion">Bengaluru</keyword>, Pune and Hyderabad. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/wipro-is-the-top-loser-on-the-exchanges-while-hcl-tech-is-the-top-gainer/articleshow/94827205.cms">Wipro is the top loser on the exchanges while HCL Tech is the top gainer</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/india-is-a-bright-light-economy-but-key-structural-reforms-needed-for-10-trillion-gdp-imf-chief-economist/articleshow/94824299.cms">India is a bright light economy, but key structural reforms needed for $10 trillion GDP: IMF chief economist</a>

WeWork India makes its 1st investment in Bengaluru-based Zoapi

A total of four movies hit the theatres last week and all failed miserably at the <keyword id="827271" type="UNKNOWN" weightage="100" keywordseo="Domestic-Box-Office">domestic box office</keyword>, not only because The Amazing <keyword id="88398" type="ENTERTAINMENT" weightage="60" keywordseo="Spider-Man">Spider-Man</keyword> 2 has stolen the show in India but also because they (at least three of them including <keyword id="554325" type="UNKNOWN" weightage="100" keywordseo="Purani-Jeans">Purani Jeans</keyword>, <keyword id="2221582" type="UNKNOWN" weightage="100" keywordseo="Kahin-Hai-Mera-Pyaar">Kahin Hai Mera Pyaar</keyword> and <keyword id="721837" type="UNKNOWN" weightage="100" keywordseo="angry-young-man">Angry Young Man</keyword>) have come loaded with common clichés that no longer attract the new-gen audience. The lone exception is <keyword id="1048837" type="UNKNOWN" weightage="100" keywordseo="Kya-Dilli-Kya-Lahore">Kya Dilli Kya Lahore</keyword>, starring <keyword id="31515" type="PERSON" weightage="100" keywordseo="Vijay-Raaz">Vijay Raaz</keyword> (he is also the <keyword id="303" type="POSITION" weightage="80" keywordseo="Director">director</keyword>) and <keyword id="422342" type="PERSON" weightage="100" keywordseo="Manu-Rishi">Manu Rishi</keyword> and offering an altogether different take on the trouble-torn <keyword id="2228533" type="UNKNOWN" weightage="100" keywordseo="Indo-Pak-relationship">Indo-Pak relationship</keyword>. 
 
<keyword id="2223189" type="UNKNOWN" weightage="100" keywordseo="KDKL">KDKL</keyword> is an offbeat <keyword id="829894" type="UNKNOWN" weightage="100" keywordseo="Bollywood-flick">Bollywood flick</keyword> that dates back to 1948 and narrates the cross-border realities experienced by two ‘uprooted’ soldiers – <keyword id="2228536" type="PERSON" weightage="100" keywordseo="Rehmat-Ali">Rehmat Ali</keyword> (<keyword id="6363210" type="ENTERTAINMENT" weightage="100" keywordseo="Raaz">Raaz</keyword>) and <keyword id="2228527" type="UNKNOWN" weightage="100" keywordseo="Samarth-Pratap">Samarth Pratap</keyword> (Rishi). Both are forced to leave their ‘original’ homeland due to <keyword id="6373578" type="ENTERTAINMENT" weightage="100" keywordseo="partition">Partition</keyword> and compelled to live a life of bloodshed, bullets and the occasional enemy banter taking place across the border. Narrated &amp; presented by writer/lyricist <keyword id="7470" type="CITY" weightage="100" keywordseo="GUlzar">Gulzar</keyword> and garbed in dark humour, Kya Dilli Kya Lahore unfolds how ‘political’ issues impact real life as we relive the nostalgia, the helplessness and the pathos of it all. Although a commendable movie by the <keyword id="193380" type="POSITION" weightage="80" keywordseo="Debutant-director">debutant director</keyword>, it fared poorly at the domestic box office and fetched an abysmal Rs 7-8 lakh on the debut day (May 2). As per industry estimates, KDKL netted around Rs 35-40 lakh after the first three days while the budget (cost and P&amp;A) has reportedly stood at Rs 5.5 crore. The movie hit about 250 screens at home but suffered terribly from poor promotion and near-zero pre-release buzz. 
 But then, <keyword id="6356809" type="POSITION" weightage="80" keywordseo="producer">producer</keyword> <keyword id="476576" type="PERSON" weightage="100" keywordseo="Karan-Arora">Karan Arora</keyword> has told the media he is “not worried about the commercial viability” of the film and is content to know that he made “an honest film.” Film critic Shubhra Gupta sums it up well. “There’s something about the film that reminds you of the Bosnian Oscar winner <keyword id="1477726" type="UNKNOWN" weightage="100" keywordseo="No-Mans-Land">No Man’s Land</keyword>, a poignant reminder of the futility of war and the tragic waste of human lives. Kya Dilli Kya Lahore had the potential to be as powerful, maybe more, because it is our story… but single-tone. And that’s because the plot is so thin. This film could have been more.” 
 
 
 <keyword id="202523" type="POSITION" weightage="80" keywordseo="debutante-director">Debutante director</keyword> <keyword id="2218584" type="UNKNOWN" weightage="40" keywordseo="Tanushri-Chattrji-Bassu">Tanushri Chattrji Bassu</keyword>’s coming-of-age bromance Purani Jeans did a little better at the box office, netting a little over Rs 1 crore in the debut week against a budget of Rs 11 crore. It’s the age-old story of two <keyword id="343" type="ENTERTAINMENT" weightage="80" keywordseo="Friends">friends</keyword> falling for the same girl – the staid <keyword id="1594" type="COMPANY" weightage="100" keywordseo="Siddharth">Siddharth</keyword> (<keyword id="582705" type="UNKNOWN" weightage="100" keywordseo="Tanuj-Virwani">Tanuj Virwani</keyword>) from a poor background, the rich and spoilt brat <keyword id="23466" type="PERSON" weightage="100" keywordseo="Sam">Sam</keyword> (<keyword id="1249127" type="UNKNOWN" weightage="100" keywordseo="Aditya-Seal">Aditya Seal</keyword>) and the trophy girlfriend, <keyword id="59965" type="PERSON" weightage="100" keywordseo="Nayantara">Nayantara</keyword> (Brazilian <keyword id="334231" type="POSITION" weightage="60" keywordseo="model-turned-actress">model-turned actress</keyword> <keyword id="1701426" type="UNKNOWN" weightage="100" keywordseo="Izabelle-Leite">Izabelle Leite</keyword>). What follows is a youth-focused but totally cliché script that depicts every possible human emotion without much cohesiveness and one can hardly relate to the ‘growth pangs’ we all face during those wonder years. 
 Directed by <keyword id="2228541" type="UNKNOWN" weightage="100" keywordseo="Mahesh-Vaijnath-Doijode">Mahesh Vaijnath Doijode</keyword>, Kahin Hai Mera Pyar is all about an artist’s quest to find his dream girl, with loads of traditional <keyword id="143" type="CITY" weightage="100" keywordseo="Bollywood">Bollywood</keyword> trappings weighing it down. <keyword id="766838" type="UNKNOWN" weightage="100" keywordseo="Abhishek-Sethiya">Abhishek Sethiya</keyword> and <keyword id="1049937" type="UNKNOWN" weightage="100" keywordseo="Sonia-Mann">Sonia Mann</keyword> don’t sizzle on-screen and the improbable storyline of this musical romance seems far removed from the reality. Although veteran <keyword id="297" type="PERSON" weightage="100" keywordseo="Jackie-Shroff">Jackie Shroff</keyword> shines, the rest looks totally bleak (yes, even the VFX is bad) and its bleak performance is amply reflected at the domestic box office. Even after four days, the official numbers are not available although industry insiders have already written it off. Ramesh Rout-directed Angry Young Man also suffers the same fate. Starring Ajay Sinh Rathod (Arjun) and <keyword id="2110776" type="UNKNOWN" weightage="100" keywordseo="Prachi-Sinha">Prachi Sinha</keyword> (Sarah), this action movie reeks of <keyword id="26778" type="ENTERTAINMENT" weightage="80" keywordseo="underworld">underworld</keyword>, revenge, love and benevolence – all rehashed from earlier Bollywood flicks of the same genre. The outcome is another flop and even here, the numbers are missing till date. So wait and watch for the next lot of movies to hit the theatres – those may just be able to break the Black Friday jinx plaguing the box office like never before. 
 
Images: Indiatimes

Box Office Debacle Doesn’t Let Up; Kya
Dilli Kya Lahore Is A Must-watch

New Delhi, Co-working major <keyword id="4052133" type="General" weightage="20" keywordseo="Wework-India" source="Orion">WeWork India</keyword>'s revenue grew by 40 per cent to Rs 400 crore during the first quarter of this fiscal year on rising demand for flexible workspace across major cities from corporates, its CEO Karan Virwani said. The company, which is owned by real estate firm Embassy Group and <keyword id="2918346" type="General" weightage="20" keywordseo="Wework" source="Orion">WeWork</keyword> Global, has started its 50th centre at Saket in South Delhi, marking its entry into the national capital market. The new centre, comprising 54,000 square feet area and around 700 desks, is located in a commercial building developed by realty firm Eldeco. In an interview with PTI, Virwani said the company has completed six years since it opened the first centre in India and now it has 50 centres and around 90,000 desks across seven cities. "It has been a great journey of growing both the co-working/flexible workspace segment and WeWork India as a brand. In the last three years, since COVID, the adoption of flex space growing significantly," he said. The demand is increasing as more and more employees are coming back to offices, Virwani said, adding that the country's economic growth is also supporting demand. "In 2021-22, we close the financial year with around Rs 800 crore of revenue and we were negative Rs 50 crore EBIDTA (Earning Before Interest, Depreciation, Tax and Amortisation). During the last fiscal, we achieved a turnover of around Rs 1,400 crore and Rs 250 crore of EBIDTA," Virwani said. The company was profitable at the post-tax level also during the last fiscal year, he said. Virwani hoped that the company would maintain growth during the current fiscal. In the first quarter of 2023-24, Virwani said the company has posted a revenue of Rs 400 crore, up 40 per cent from the year-ago period. The EBIDTA was about Rs 70 crore. "We are targeting 50 per cent growth in this full fiscal year," he added. On the operational front, Virwani said the average occupancy level at its centres is at around 80 per cent and the company would target to increase it further. He said that a lot of new demand is coming from the existing clients. "The past few years have clearly highlighted that the future of work is flexible, and India Inc is increasingly adopting flex working as a way of life". Asked about US-based WeWork Global's recent statement that "substantial doubt" exists about the company's ability to continue as a going concern, Virwani said WeWork India business will have no impact from the development globally. "We have always been a separate entity where the majority anyway is owned by Embassy Group. We have run and build the India business in an extremely healthy way. So, India business is fully isolated from what is happening globally," Virwani said. In WeWork India, Embassy Group holds a 73 per cent stake, while WeWork Global has a 27 per cent shareholding. Asked whether Embassy would consider WeWork Global stake in India business, he said, "I will always be a buyer of this company's equity if anyone is willing to sell it whether it's at a discount or even a slight premium. We see a long-term value to be much much higher than what it is today. So I am always going to be a buyer." Virwani described WeWork Global as a great partner who helped India business during the tough COVID period by making investments. WeWork Global, which is a leading provider of flexible workspace, had in June 2021 invested USD 100 million in WeWork India. WeWork India has 50 centres, covering 6.5 million square feet area across 7 cities -- New Delhi, Gurugram, Noida, Mumbai, Bengaluru, Pune and Hyderabad.

WeWork India revenue up 40% in Apr-Jun to Rs 400 cr on rising demand for co-working space: CEO

<bulletContentEmbed name="Anjali Byce_Varun Duggirala_Karan Virwani_Karishma Mehta" columns="4"><bulletContentHeading name="Anjali Byce_Varun Duggirala_Karan Virwani_Karishma Mehta_head"> <div type="image" title="Anjali Byce" msid="100129453" hostid="261" caption="&amp;lt;p&amp;gt;CHRO&amp;lt;br&amp;gt;Sterlite Technologies&amp;lt;/p&amp;gt;"></div></columnHeadThumb>Anjali Byce</columnHeadTitle></columnHead> <div type="image" title="Varun Duggirala" msid="100129509" hostid="261" caption="&amp;lt;p&amp;gt;Influencer, Podcaster, Entrepreneur&amp;lt;/p&amp;gt;"></div></columnHeadThumb>Varun Duggirala</columnHeadTitle></columnHead> <div type="image" title="Karan Virwani" msid="100129600" hostid="261" caption="&amp;lt;p&amp;gt;CEO&amp;lt;br&amp;gt;&amp;lt;span&amp;gt;&amp;lt;/span&amp;gt;WeWork India&amp;lt;/p&amp;gt;"></div></columnHeadThumb>Karan Virwani</columnHeadTitle></columnHead> <div type="image" title="Karishma Mehta" msid="100129650" hostid="261" caption="&amp;lt;p&amp;gt;Founder&amp;lt;br&amp;gt;&amp;lt;span&amp;gt;&amp;lt;/span&amp;gt;Humans of Bombay&amp;lt;/p&amp;gt;"></div></columnHeadThumb>Karishma Mehta</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="Anjali Byce_Varun Duggirala_Karan Virwani_Karishma Mehta_body"><bulletContentRow name="Anjali Byce_Varun Duggirala_Karan Virwani_Karishma Mehta_5626476411557216"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead><bulletContentRowHead col="2"></bulletContentRowHead><bulletContentRowHead col="3"></bulletContentRowHead><bulletContentRowHead col="4"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">CHRO Sterlite Technologies</bulletContentRowCell><bulletContentRowCell col="2">Influencer, Podcaster, Entrepreneur</bulletContentRowCell><bulletContentRowCell col="3">CEO WeWork India</bulletContentRowCell><bulletContentRowCell col="4">Founder Humans of Bombay</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody><payload><keyword id="652675" type="General" weightage="20" keywordseo="Speakers" source="Orion">speakers</keyword></payload></bulletContentEmbed> <bulletContentEmbed name="Anurag Malik_Dr Marcus Ranney_Anjali Byce_Varun Duggirala" columns="4"><bulletContentHeading name="Anurag Malik_Dr Marcus Ranney_Anjali Byce_Varun Duggirala_head"> <div type="image" title="Anurag Malik" msid="100129681" hostid="261" caption="&amp;lt;p&amp;gt;National Leader&amp;lt;br&amp;gt;WAS, EY India&amp;lt;/p&amp;gt;"></div></columnHeadThumb>Anurag Malik</columnHeadTitle></columnHead> <div type="image" title="Marcus Ranney" msid="100129769" hostid="261" caption="&amp;lt;p&amp;gt;Author &amp;amp;amp; Founder&amp;lt;br&amp;gt;Human Edge&amp;lt;/p&amp;gt;"></div></columnHeadThumb>Dr Marcus Ranney</columnHeadTitle></columnHead> <div type="image" title="Anjali Byce" msid="100129805" hostid="261" caption="&amp;lt;p&amp;gt;CHRO&amp;lt;br&amp;gt;Sterlite Technologies&amp;lt;/p&amp;gt;"></div></columnHeadThumb>Anjali Byce</columnHeadTitle></columnHead> <div type="image" title="Varun Duggirala" msid="100129832" hostid="261" caption="&amp;lt;p&amp;gt;Influencer, Podcaster, Entrepreneur&amp;lt;/p&amp;gt;"></div></columnHeadThumb>Varun Duggirala</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="Anurag Malik_Dr Marcus Ranney_Anjali Byce_Varun Duggirala_body"><bulletContentRow name="Anurag Malik_Dr Marcus Ranney_Anjali Byce_Varun Duggirala_0448446921904506"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead><bulletContentRowHead col="2"></bulletContentRowHead><bulletContentRowHead col="3"></bulletContentRowHead><bulletContentRowHead col="4"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">National Leader WAS, EY India</bulletContentRowCell><bulletContentRowCell col="2">Author &amp; Founder Human Edge</bulletContentRowCell><bulletContentRowCell col="3">CHRO Sterlite Technologies</bulletContentRowCell><bulletContentRowCell col="4">Influencer, Podcaster, Entrepreneur</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody><payload><![CDATA[speakers]]></payload></bulletContentEmbed>

Meet the Speakers

<ul><li>Former country head of <keyword id="163404" type="General" weightage="80" keywordseo="softbank" source="Orion">SoftBank</keyword> <keyword id="45947" type="General" weightage="50" keywordseo="manoj-kohli" source="Orion">Manoj Kohli</keyword> was appointed to the board of <keyword id="4052133" type="General" weightage="80" keywordseo="wework-india" source="Orion">WeWork India</keyword>.</li><li>In his previous role at SoftBank, Kohli facilitated investments to the tune of over $15 billion in over 25 AI-focused portfolio companies in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>.</li><li>Anthony Yazbeck, president &amp; chief operating officer of <keyword id="2918346" type="General" weightage="100" keywordseo="wework" source="Orion">WeWork</keyword>, also joined the board.</li></ul>WeWork India said on Monday that it has appointed Manoj Kohli, former country head of SoftBank India and SoftBank Group International, as an independent director to its board. Additionally, Anthony Yazbeck, president &amp; chief operating officer of WeWork, will also join the board. “I am optimistic about the potential of the flexible workspace industry in India, and believe that WeWork India is poised to play a significant role in this growth story. I am excited to join WeWork India at this pivotal point and leverage my expertise in managing and scaling up businesses,” said Kohli. In his previous role at SoftBank, Kohli facilitated investments to the tune of over $15 billion in over 25 AI-focused portfolio companies in India. He also supported key players like OLA, OYO, Lenskart, Grofers, Snapdeal, Uber, Swiggy, and Unacademy in addressing regulatory and government issues, and helped scale their businesses. Karan Virwani, CEO of WeWork India said that he is happy to welcome Kohli and Yazbeck at a critical juncture in the growth journey. “In the past few years WeWork India has grown significantly and proven to be a profitable and scalable business. Manoj’s experience in managing and growing businesses of scale and charting their exponential growth will be an invaluable asset for the business as well as me,” he added. Kohli has served on the board of industry body GSMA, chaired the CII Task Force on Ease of Doing Business, and currently chairs the CII Unicorn Forum that aims to attract new tech investments in India. He has built businesses in 25 countries across the Asia Pacific and Africa regions. Yazbeck, president &amp; chief operating officer of WeWork Inc said that the performance of the WeWork India business is a testament to the strength of the WeWork brand and product. “Flexibility and community is proving to be a powerful combination and, with a suite of flex space solutions, WeWork India is very well positioned to meet the evolving demand for dynamic workspaces across the country. I am looking forward to partnering with the Board as we strive to achieve our shared goals of long-term, sustainable success,” Yazbeck added.

Former SoftBank country head Manoj Kohli joins WeWork India as an independent director

<keyword id="824043" type="General" weightage="20" keywordseo="business-insider" source="Orion">Business Insider</keyword> India is hosting an annual business conclave on the <keyword id="1967222" type="General" weightage="100" keywordseo="future-of-work" source="Orion">Future of Work</keyword> (FoW) this year on March 17th in Mumbai. The event is being co-powered by Google Cloud. The Covid pandemic has re-defined many aspects of living and most importantly the approach to <keyword id="6355058" type="General" weightage="20" keywordseo="work" source="Orion">work</keyword>, <keyword id="6355058" type="General" weightage="20" keywordseo="work" source="Orion">work</keyword>force and the workplace. Corporates across the board are looking to rebuild with the latest mediums and tools. The challenge they now face is to make themselves more humane amidst digital adoption, find a balance between hybrid and physical work space and create a more equitable environment overall. Register <a href="http://businessinsider.in/fow2023">here </a>to know more about the FoW summit. The event will see founders, entrepreneurs and CXOs from India’s top brands along with trailblazers from across sectors and domains debate challenges, latest trends, address the many questions that deserve answers and to debunk many prevalent myths – when it comes to the <keyword id="1967222" type="General" weightage="100" keywordseo="future-of-work" source="Orion">future of work</keyword>. Meet the speakers: FoW Summit 2023 <ul> <li>Dr C Jayakumar, Executive VP &amp; <keyword id="6378374" type="General" weightage="20" keywordseo="chro" source="Orion">CHRO</keyword>, L&amp;T</li> <li>Mukesh Jain, CTO, VP &amp; Global Head of Innovation with AI/ML, Insights &amp; Data, Capgemini</li> <li>Harshvendra Soin, Global Chief People Officer and Head Marketing, Tech Mahindra</li> <li>Karan Virwani, CEO, WeWork India</li> <li>Neha Bagaria, Founder &amp; CEO, JobsForHer</li> <li>Harish Iyer, Head of Diversity, Equity and Inclusion, Axis Bank</li> <li>Anurag Malik, Partner &amp; National leader – Workforce Advisory Services, EYIndia</li> <li>Varun Duggirala – Influencer, Podcaster, Entrepreneur</li> <li>Karishma Mehta, Founder - Humans of Bombay</li> <li>Rohan Joshi, Influencer, Comedian, Co-Founder - All India Bakchod</li> <li>Advait Gupt, Co-Founder &amp; CEO, Kulfi Collective</li> <li>Dr Marcus Ranney, Champion of Wellbeing, Author &amp; Founder - Human Edge</li> </ul> Here’s why you should attend this summit: 1.Gain insights on latest trends, ideas and solutions from innovators and enablers 2.Listen and learn from the finest minds in the industry 3.Understand the evolving landscape to help hone your skills 4.Networking and knowledge sharing <keyword id="824043" type="General" weightage="20" keywordseo="business-insider" source="Orion">Business Insider</keyword>’s FUTURE OF WORK is the knowledge sharing platform, for all, to bring conversations and ideas together and learn from each other. You can apply <a href="https://www.businessinsider.in/fow2023">here</a> to attend the event.

Business Insider India’s Future of Work Summit 2023: Meet the speakers

As the world continues to evolve and adapt, so too does the way we <keyword id="6355058" type="General" weightage="20" keywordseo="work" source="Orion">work</keyword>. <keyword id="824043" type="General" weightage="20" keywordseo="business-insider" source="Orion">Business Insider</keyword> India is back with its second edition of The <keyword id="1967222" type="General" weightage="20" keywordseo="future-of-work" source="Orion">Future of Work</keyword> Summit 2023 in Mumbai this Friday, March 17. The conclave aims to explore the latest trends and advancements in the way we work. This year's agenda is focused on several key areas that are transforming the world of work as we know it: technology, cultural intelligence, upskilling and human capital. Let’s get onto what you can expect at the FoW Summit 2023. The future of <keyword id="11018" type="General" weightage="20" keywordseo="jobs" source="Orion">jobs</keyword> is tied in with the technology revolution, upskilling and the ability to find the confluence between work, technology and human experience. The day begins with a keynote address by Maharashtra’s Labour Secretary, Vinita Vaid Singal on the impact of technology on workforce, the need for reskilling and upskilling programmes to ensure that workers are equipped with skill sets to thrive in a changing job market. <h5 style="line-height:1.2;background-color:#ffffff;margin-top:12pt;margin-bottom:12pt;">Final call to <a href="http://businessinsider.in/fow2023">register </a>and be a part of all the action</h5>The rest of the sessions are broadly categorised into four sections - <ul><li>Enhancing Human Capital: The need for policies to align employee growth and business strategies to ensure that both workforce and business can thrive. -Nitin Sethi, CEO, Aon Consulting, India &amp; South Asia -Naiyya Saggi, Co-Founder, Good Glamm Group -Karan Virwani, CEO, WeWorkIndia </li><li>Technology: The future of work and technology and the tools driving digital transformation across workplaces over the next decade -Ashok Krish, Global Lead - Digital Workplace, TCS -Sumedha Chakraborty, Country Head, India &amp; SAARC Business, Google Workspace, Google Cloud -Mukesh Jain - CTO, VP &amp; Global Head of Innovation with AI/ML, Insights &amp; Data - Capgemini </li><li>Upskilling and push for Diversity, Equity, Inclusion (DEI): Two cornerstones that HR leaders must focus on to create a productive, diverse workforce that can adapt to changing needs of business. -C Jayakumar, Executive VP &amp; <keyword id="6378374" type="General" weightage="20" keywordseo="chro" source="Orion">CHRO</keyword>, Larsen &amp; Toubro -Harshvendra Soin, Global Chief People Officer and Head Marketing, Tech Mahindra -Ryan Lowe, Partner - People Advisory Services, E&amp;Y -Harish Iyer, Head - DEI, Axis Bank -Ishita Medhekar, CHRO, Metropolis Healthcare -Neha Bagaria, Founder &amp; CEO, JobsForHer </li><li>Culture, Content &amp; Creator Economy that focuses on the future of storytelling in India: How new platforms are revolutionizing the way we consume and tell stories and the opportunities it presents for content creators. -Rohan Joshi, Influencer, Comedian, Co-Founder - All India Bakchod -Advait Gupt, Co-Founder &amp; CEO, Kulfi Collective -Varun Duggirala - Influencer, Podcaster, Entrepreneur -Karishma Mehta, Founder &amp; CEO, Humans of Bombay</li></ul>Co-powered by Google Cloud, the Future of Work Summit 2023 is a confluence of the brightest minds reimagining the new era of work, workplace and workforce. Discover new trends shaping the workplace and learn about the strategies and tools that can help you stay ahead of the curve. Register <a href="http://businessinsider.in/fow2023">now</a>!

Final countdown begins! Here’s your guide to the Future of Work Summit 2023

<ul><li>When fears of recession looms large, investors pull out money from riskier bets to invest in <keyword id="18712" type="General" weightage="20" keywordseo="gold" source="Orion">gold</keyword></li><li>This time around however money is flowing out of gold to US treasuries due to strengthening dollar index.</li><li>Gold might be losing sheen as an inflation-hedge, <keyword id="5685786" type="General" weightage="80" keywordseo="ravindra-rao" source="Orion">Ravindra Rao</keyword>, VP- head of commodity research at <keyword id="66607" type="General" weightage="50" keywordseo="kotak-securities" source="Orion">Kotak Securities</keyword> who believes it to remain below $1800/oz in the near term.</li><li>Gold demand is holding up well in spite of investments skewed towards the <keyword id="6397947" type="General" weightage="20" keywordseo="dollars" source="Orion">dollars</keyword>, <keyword id="346885" type="General" weightage="80" keywordseo="chirag-mehta" source="Orion">Chirag Mehta</keyword>, CIO of Quantum AMC. </li></ul>When inflation goes up, investors move to gold. When fears of recession looms large, investors pull out money to invest in gold — the same asset that commodity traders and even middle class grannies shift to during bad times, ‘cause it’s ‘safe’. This almost-recession and high inflation-season has played out differently — and gold has hit a nine-month low to around $1730/oz, testing the lows it hit in September 2021, in the thick of the pandemic. While people are pulling out money from equities, they are going to an option that’s safeer yet holds better promise – US <keyword id="6374832" type="General" weightage="80" keywordseo="treasury" source="Orion">treasury</keyword> bonds. “The dollar index is at a multi-year high. The yields of US treasury bonds have gone up from around 1.5% to almost over 3%, and TIPS or treasury inflation protected securities too are multi year highs,” Chirag Mehta, CIO of Quantum AMC told Business Insider India – explaining where ‘gold money’ is flowing to. Money is flowing out of exchange traded funds or ETFs, and that indicates lower investor interest. It looks like gold is losing its appeal as an inflation hedge, opines Ravindra Rao, VP- head of commodity research at Kotak Securities. In the last few months, central banks across the world have tightened fists to control inflation — which is now cooling down thanks to fear of recession. “Ideally these factors should support it but now gold money is flowing into dollars, and steering investors away from it. Gold prices could remain below $1800/oz in the near future. Since it’s already falling, traders are waiting for it to fall more to invest,” explained Rao. According to him, little would change in the prices of gold before US inflation data comes in later week. More than just about dollars All the gold’s fall cannot be attributed to dollars and its investors only. Some of the effect could be because gold is going where most other commodities are — like crude oil. It has been falling on fears of increasing Covid-19 cases in China that can dent demand internationally. The same fears are weighing on gold as well. It’s not just international demand but domestic demand too reduced a little as the wedding season has come to an end. But not all experts think so. “I think gold demand is holding up well relative to other assets even though investments are now skewed towards the dollar,” said Mehta. According to Mehta, there are many more riskier assets than gold – like silver which is considered the poor cousin of gold as an investment class — but its fall has been higher. “Those who invested in silver are disappointed. Those who invested in Bitcoin are disappointed. I think all things considered, gold’s fall has been much less,” explains Mehta. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/karan-virwani-kunal-shah-and-4-other-startup-ceos-invest-in-a-real-estate-venture/articleshow/92829944.cms">Karan Virwani, Kunal Shah and 4 other startup CEOs invest in a real estate venture</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/its-time-for-enterprises-to-take-a-long-hard-look-at-ai-ethics/articleshow/92830061.cms">It’s time for enterprises to take a long, hard look at AI Ethics</a>

The Gilded Age could be ending as yellow metal's losing its safe haven appeal

Co-working major <keyword id="4052133" type="COMPANY" weightage="20" keywordseo="WeWork-India">WeWork India</keyword> on Monday said it has raised ₹200 crore from investors, through a mix of debt and equity. The company said that following the challenging period for the industry due to the <keyword id="11082915" type="UNKNOWN" weightage="20" keywordseo="lockdown-last-year">lockdown last year</keyword>, it has bounced back and pivoted to adapt favourably through <keyword id="11087654" type="UNKNOWN" weightage="20" keywordseo="new-flexible-product-offerings">new flexible product offerings</keyword>. <keyword id="2918346" type="COMPANY" weightage="20" keywordseo="WeWork">WeWork</keyword> India said that it is aiming for profitability in 2021. "The new capital we have raised will help us in continuing our upwards momentum and truly explore the potential of flexible workspaces in the Indian market," Karan Virwani, CEO, WeWork India, said in a statement. Announcing its "most successful sales quarter yet," WeWork India said it sold 10,000 desks during the January-March quarter. Despite the slow absorption for commercial real estate with 5.53 million sq ft leased in Q1 2021, WeWork remained bullish with driving sales and net absorption, with more than 7 lakh sq ft of area being sold (over 10 per cent of the total leasing in the market). "While last year was challenging for the industry, we have seen a steady uptick in demand from members of all sizes, and we will continue to remain bullish and focus on the growth of flexible workspaces in the country," Virwani said. "We are poised for sustainable long-term growth and are aiming for profitability in 2021. Our focus remains on providing a wide range of flexible offerings to meet our members' evolving needs." WeWork said over the last year it has also seen a strong demand from enterprises, who are now looking at flexible workspaces as a viable long-term real estate option. This is showcased by WeWork's enterprise portfolio seeing a 10 per cent jump to now constitute 60 per cent enterprise members, as well as facilitating the opening of its new workspace: Embassy Manyata NXT, in <keyword id="6354321" type="COMPANY" weightage="20" keywordseo="Bengaluru">Bengaluru</keyword>. WeWork last month said it entered into an agreement with Indian American Vivek Ranadive-led blank-check firm BowX Acquisition Corp., providing for a business combination that will result in the co-sharing workspace company becoming a publicly listed company. The transaction values WeWork at an initial enterprise value of approximately $9 billion, WeWork said. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/aadhaar-pan-and-bank-account-numbers-leaked-in-upstox-data-breach/articleshow/82025949.cms">Discount broker Upstox suffers data breach – Aadhaar, PAN and bank account numbers leaked</a> <a href="https://www.businessinsider.in/science/environment/news/how-ash-from-st-vincents-volcano-is-covering-the-caribbeans-largest-island-nation/slidelist/82025420.cms">Devastating images show how ash from St Vincent’s volcano is covering the Caribbean's largest island nation</a> <a href="https://www.businessinsider.in/tech/mobile/news/lg-wing-gets-a-40000-price-cut-a-week-after-the-company-shuts-its-smartphone-business/articleshow/82027401.cms">LG Wing gets a ₹40,000 price cut a week after the company shuts its smartphone business</a>

Co-working space startup WeWork India raises ₹200 crore, aims to be profitable this year

<ul><li>There are over 6.3 crore micro, small and medium enterprises (MSMEs) in India, majority of which are micro and small enterprises.</li><li>Majority of Indian MSME have a turnover of less than ₹40 lakhs, but do not have access to any kind of loan, CEO of Chqbook added.</li><li>The challenges in the assessment of requirement is one of the major reasons why the India MSME have been financially excluded.</li></ul>There are over 6.3 crore micro, small and medium enterprises (MSMEs) in India and most of them are facing one major problem — access to capital. Whether it is investment opportunities or credit facilities, Indian MSMEs have been largely financially excluded. Gaurav Shahlot, head of product at Khatabook, in a conversation with Business Insider India, noted that credit has been a challenge for the Indian MSMEs as they need small amounts of capital for a short period of time. “They also needed very, very frequently, whether it's for purchasing an inventory or financing an invoice,” he added. Vipul Sharma, founder and CEO of Chqbook, noted that a majority of Indian MSMEs have a turnover of less than ₹40 lakhs, which is also the segment that does not have to pay any Goods and Services Tax (GST). “That segment has done better... The access to credit is definitely a challenge,” he added, saying that less than two crore of the total six crore MSMEs have taken any loan. Even though the Reserve Bank of India (RBI) has made MSME into a priority lending sector, the lack of data on these small businesses hasn’t been helping. Yet, fintechs and digital businesses have been gearing up to lend to small businesses, who have been left out of the financial system for too long. Shahlot noted that the intervention of technology has created several touchpoints for MSMEs, making it easier to underwrite loans. He noted that it has also created a lot of different modes of credit lines such as distributor-to-retailer model where retailers are financed on the back of the purchases; Buy-Now-Pay-Later solutions where lenders are financing a purchase by directly paying the supplier and much more. Just like traditional lenders, even fintechs are facing similar challenges but have devised alternate ways to disburse these loans and credit lines. <cmsannotation type="cmsannotation" annotationid="But there must be some shortcomings to this as well" comment="subhead" text="But there must be some shortcomings to this as well">But there must be some shortcomings to this as well</cmsannotation> “The lenders also face certain challenges because the data and information, which is required for processing the credit lines or pretty facilities, is not easily available… It's not even authenticated. Because the operations [of these MSME] are such small level operations it becomes difficult for them [lenders] also,” Kishor Kharat, former MD and CEO of IDBI Bank and Indian Bank, said. He noted that the biggest challenge in the MSME lending has been the assessment of requirements. Some of these MSMEs operate on such a small scale that they have not been audited and sometimes it is even difficult to calculate their turnover. UPI and QR-based payments have made the assessment of turnover and requirement somewhat easier, but a fully computerized operation would be a “dream situation” for assessment of these requirements, Kharat added. While it is all good, the impact of fintechs is still on the surface. Kharat noted that fintechs are largely serving audiences in urban areas, and the MSMEs in the rural regions have still not been able to reap the benefits of these companies. He believes roughly 5-10% MSMEs must have benefited from the technology intervention. Loans amounting to ₹3.32 trillion have been sanctioned under the Emergency Credit Line Guarantee Scheme (ECLGS) till April 30, 2022. About ₹2.54 trillion had been disbursed. “Even though the Reserve Bank of India has stipulated this [MSMEs] under priority sector lending, banks find it difficult to lend to micro and small MSMEs [which makes up for roughly 95% of the industry] whereas medium category people get more credit support,” Kharat noted. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/karan-virwani-kunal-shah-and-4-other-startup-ceos-invest-in-a-real-estate-venture/articleshow/92829944.cms">Karan Virwani, Kunal Shah and 4 other startup CEOs invest in a real estate venture</a> <a href="https://www.businessinsider.in/careers/news/mba-chai-wala-is-now-looking-to-hire-500-people-for-100-new-stores/articleshow/92828283.cms">From a small thela to 100 stores — MBA Chai Wala is now looking to hire 500 people for 100 more</a> <a href="https://www.businessinsider.in/business/corporates/news/cement-companies-are-girding-for-tougher-times-as-rising-fuel-costs-bite/articleshow/92822829.cms">Cement companies are girding for tougher times as rising fuel costs bite</a>

Fintechs are helping Indian MSMEs with their biggest challenge — data and the lack of it

New Delhi, May 18 () Co-working major WeWork India, owned by realty firm Embassy Group, will lay off around 20 per cent of its total 500 employees with effect from June to cut its operational costs after its business hit by the coronavirus outbreak, sources said. Karan Virwani, the CEO of WeWork India, informed this decision through internal communication to company employees. Around 100 workers would be affected by the decision, sources said. According to sources, WeWork India will honour the notice period and also offer severance packages to its employees. The company will continue medical insurance until the end of this year and also offer its coworking centres free of cost. "We have optimised and planned our team strength based on the core business, as we continue to execute our long term business strategy in India and aim to be profitable by early 2021. We have realigned certain functions and teams to reflect our business priorities and a member-centric approach. "While decisions that impact our people are some of the hardest to make, we believe that this step is required to build an effective and sustainable structure that supports the company and our members in the long term," Virwani said in a statement. WeWork India has over 57,000 desks in 34 locations across NCR, Mumbai, Bengaluru, Pune and Hyderabad. The seats are available in the range of Rs 5,000-40,000 per desk per month. Bengaluru-based Embassy Group, a major player in Indian commercial real estate that launched India's first REIT, had partnered US-based WeWork in 2016 to enter into co-working business. The coworking segment, which grew at a rapid pace in India in the last few years, has been badly impacted because of lockdown to control coronavirus disease. Coworking players take office space on lease from real estate developers and other landlords and then subleases that to corporates, freelancers and startups. MJH MRMR

Lockdown impact: WeWork India to lay off around 100 employees

New Delhi, Feb 3 () Co-working major WeWork India, owned by realty firm Embassy Group, has expanded its operations by adding two new centres in Mumbai and Bengaluru comprising 4,350 seating capacities to meet growing demand of flexible workspace.
 In Mumbai, the coworking centre is located at Nesco IT Park and will have 3,400 desks; while 950-seater centre has been opened in Prestige Cube, Bengaluru. The total area leased in these two centres is 1.15 lakh sq ft.
 Karan Virwani, CEO of WeWork India, said, "This is a thriving time for the workspace industry with demand at an all time high."
 WeWork recently opened a centre in Worli, Mumbai with a desk capacity of 600.
 "Mumbai is the financial capital of India with one of the fastest growing and most diverse population of entrepreneurs, startups and established multinationals which are in search of a dynamic workspace environment that caters to their needs. Bengaluru as well continues to display high demand for office spaces," he added.
 With the launch of these two new centres, WeWork India has over 57,000 desks in 34 locations across NCR, Mumbai, Bengaluru, Pune and Hyderabad. The seats are available in range of Rs 5,000-40,000 per desk per month.
 The company plans to raise USD 200 million (around Rs 1,400 crore) to expand business and expects to be profitable at the entity level in one year, Virwani had said last year.
 Bengaluru-based Embassy Group, a major player in Indian commercial real estate that launched India''s first REIT earlier this year, had partnered US-based WeWork in 2016 to enter into co-working business. MJH SHW
SHW

WeWork India starts two new co-working centres in Mumbai, Bengaluru with 4,350 desks

New Delhi, Apr 24 () Faced with liquidity crisis and loss of business due to the nationwide lockdown, the country's top co-working space operators have come together to form an association to chalk out strategies to deal with immediate cash-flow challenges and future roadmap. The industry body named Indian Workspace Association (IWA) will represent the problems faced by the industry to the government as well as other stakeholders. The co-working segment has been growing at a rapid pace over the past few years. The operators take space on lease from realty firms or landlords and then sub-lease to their clients which are startups, freelancers and corporates. However, following the lockdown, these players are facing a huge liquidity crisis as many of their clients have shown reluctance in paying rents and some of them even cancelling agreements. "Co-working and flexible workspace providers across the country have come together to form the Indian Workspace Association, that will be the de-facto voice of the workspace industry in India," the industry body said in a statement. Although the association has been formed to represent and protect the wider interests of the industry as a whole, the IWA's immediate goal is to define protocols and practices for the industry to address the ongoing COVID-19 crisis. The association would plan strategies for the way forward in a post-coronavirus world, it said. IWA will represent majority of companies in the co-working and flexible workspace segment. It currently comprises more than 40 players - at both national and state levels. The association is led by a core team of six members who have been nominated by the larger group to advocate the industry's concerns and put forth demands to the key stakeholders. Karan Virwani, CEO, WeWork India; Akshit Mehta, Founder, Vorqspace; Pranay Gupta, Co-founder, 91 Springboard; Shesh Rao Paplikar, CEO, BHIVE Workpsace; Srishti Dhir, founder, Hub and Oak; Vikas Lakhani, Co-founder, InstaOffice and Yatin K Thakur, Founder, CoworkIn are the six members. "Like most industries, the co-working industry has also been considerably impacted by the COVID 19 pandemic. Thus, we felt the need to create an association to synergise our efforts to help us present our unified position in front of our partners, industry stakeholders, as well as the government," said Pranay Gupta. In the current environment, he said the IWA's top priority is to seek government support, rent waiver from landlords and discounts from service providers. "We are liaising with the relevant ministries and authorities to get support and relief for the industry, which could eventually be passed on to our clients," Gupta said. MJH ANSANS

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Business Insider India’s Future of Work Summit 2023: Meet the speakers

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Final countdown begins! Here’s your guide to the Future of Work Summit 2023

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