Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<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

<a href="http://www.businessinsider.in/topic/WeWork">WeWork</a>, an Israeli startup, which declared its plan to set shop in India soon, just raised $430 million from Chinese investors. 
 
The office rental space startup got <a href="http://www.businessinsider.in/searchresult.cms?query=funding">funding</a> from Legend Holdings and Hony Capital and this funding round has raised <keyword id="2918346" type="UNKNOWN" weightage="20" keywordseo="WeWork">WeWork</keyword>’s valuation to $16 billion. 
 
With this investment, <a href="http://www.businessinsider.in/Adam-Neumann-Co-Founder-CEO-at-WeWorks-views-on-India-andits-Startups/articleshow/50602407.cms">WeWork’s Adam Neumann</a> plans to expand footprint in Asia. 
 
As per reports, WeWork’s valuation climbed from $5bn in 2014 to $16bn this year, which is more than <a href="http://www.businessinsider.in/searchresult.cms?query=elon+musk">Elon Musk’s</a> SpaceX and Pinterest. 
 
Neumann, during <a href="http://www.businessinsider.in/searchresult.cms?query=startup+india">Startup India, Standup India</a> event in New Delhi, had said he wanted to leverage India’s workforce to build a global community. 
 
READ MORE: <a href="http://www.businessinsider.in/Adam-Neumanns-WeWork-is-hiring-in-India-CEO-COO-CFO-CMO-positions-up-for-grabs/articleshow/50602171.cms">Adam Neumann’s WeWork is hiring in India! CEO, COO, CFO, CMO positions up for grabs</a> 
 
WeWork has 80 co-working spaces in 23 cities around the globe and has 30,000 clients, such as Merck and American Express.

Israeli startup, which is entering India, just got $430 million funding

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

<ul><li>Co-working space provider WeWork's India chief is inviting the staff off Jet Airways to apply for jobs.</li><li>16,000 employees of Jet Airways have been left in a lurch after the cash-strapped airline got grounded last week.</li><li>WeWork's India offices have at least 149 open positions across departments.</li></ul>Jet Airways, India's oldest private airline, has been grounded. That was not good news for the company's lenders, air passengers, the economy, but the worst hit are the company's 16,000 employees who hung around during the last few stressful months before getting stranded. But there may be some good news. WeWork is inviting the staff off Jet Airways to apply for vacancies in the company that provides co-working spaces. 
	
	
	
	<div type="twitter" handle="WeWorkIndia" handlename="WeWork India" image="http://pbs.twimg.com/profile_images/1082937867511447552/__RSRR4a_normal.jpg" favoritecount="39" retweetcount="11" status="Be a part of our WeWork family. To know more, write to us at recruit@wework.co.in #weworkindia https://t.co/uhL885XJeI" createdat="1556031560000" id="1120703709565075457"></div>









 The tweet from WeWork India followed a post on LinkedIn by the Chief Executive Officer, Ryan Bennett. 
 
 
 
 <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[

]]></cdata></div>









 The India unit of the $45 billion WeWork has at least 149 open positions in the country, <a href="https://weworkindia.recruiterbox.com/" data-type="tilCustomLink" target="_blank">according to the website</a>. <table style="width: 155pt;"> </colgroup></colgroup> <tbody><tr> <td class="xl64" style="height:15.0pt;width:107pt">Department</td> <td class="xl64" style="border-left-width: initial; border-left-style: none; width: 48pt;">Vacancies</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Admin</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">2</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Community Team</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">15</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Corporate Strategy</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">4</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Development</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">28</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Finance</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">6</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">General Management</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">1</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Legal</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">1</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Marketing</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">9</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Operations</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">11</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">HR</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">3</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Real Estate</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">6</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Sales</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">63</td> </tr> <tr> <td class="xl64" style="height: 15pt; border-top-width: initial; border-top-style: none;">Total</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">149</td> </tr></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/boeing-and-jet-airways-crisis-has-helped-indigo-lufthansa-and-singapore-airlines-but-hurt-indian-airline-traffic/articleshow/69001574.cms" data-type="tilCustomLink" target="_blank">The crises at Boeing and Jet Airways has brought India's air traffic growth to a grinding halt</a> <a href="https://www.businessinsider.in/as-jet-remains-grounded-indian-airlines-are-increasing-their-fleets-to-rein-in-surging-ticket-prices/articleshow/68986272.cms" data-type="tilCustomLink" target="_blank">As Jet remains grounded, Indian airlines are increasing their fleets to rein in surging ticket prices</a>

WeWork's India chief is inviting Jet Airways staff to apply for jobs

<ul><li><keyword id="4052133" type="PERSON" weightage="20" keywordseo="WeWork-India">WeWork India</keyword> is run by the <keyword id="252055" type="COMPANY" weightage="20" keywordseo="Embassy-Group">Embassy Group</keyword> as a different entity. </li><li>An Embassy spokesperson told Business Insider that <keyword id="2918346" type="PERSON" weightage="20" keywordseo="WeWork">WeWork</keyword> India remains immune from the global mishaps.</li><li>The company also claims to have achieved operational profitability at a portfolio level in two years of operations</li></ul>The troubled coworking giant WeWork has confirmed that it’s axing 2,400 jobs globally to cut down costs. But its India business and employees remain safe. WeWork India is run by the Embassy Group as a different entity. “WeWork India is a strategic long-term play for Embassy group and its performance has exceeded our expectations this year. With over 40% of the coworking market of over 400 players, WeWork in India has 25 locations in business hubs across the country,” an Embassy Group spokesperson told Business Insider. For the second quarter. <keyword id="2015207" type="PERSON" weightage="20" keywordseo="Embassy-Office-Parks">Embassy Office Parks</keyword> posted a net profit of ₹232 crore, with a total income of ₹538 crore. The group remains bullish on the Indian co-working opportunity. According to a report by consulting firm Knight Frank, as much as 4 million sq. ft of corporate real estate leased for coworking across major cities in the first half of 2019. “WeWork India, which is wholly owned and funded by Embassy group, is our big bet in this space. Aligned with the group’s corporate real estate portfolio, WeWork India has established its market leadership and operational profitability at a portfolio level in two years of operations,” said Embassy group spokesperson. The company also hopes to continue working with the new global WeWork co-CEOs – Artie Minson and Sebastian Gunningham. WeWork global on the other hand, had a stressful year as its financials and governance was questioned as it was going for an IPO. <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword>, which was the company’s biggest backer, cut its valuation from $47 billion to $8 billion. WeWork founder <keyword id="3195050" type="PERSON" weightage="20" keywordseo="Adam-Neumann">Adam Neumann</keyword> left the company after the debacle. SoftBank invested as much as $1.5 billion in October, Neumann became a Board observer, and retained voting control over his shares.

WeWork is laying off 2,400 employees globally, but its India business remains safe

<div class="KonaFilter image-container display-table"><div><div class="image"></div></div></div><ul><li>WeWork India is battling to raise $200 million in fresh capital after a local lender pulled $100 million in funding following the The We Company's failed initial public offering, according to <a href="https://www.reuters.com/article/us-wework-india-funding/wework-india-fighting-for-new-funds-after-talks-with-local-lender-collapse-idUSKBN1WP17C">Reuters</a>. </li><li>The business is a franchise of WeWork owned by investors including the Embassy Group, a real estate developer based in India. </li><li>Jitu Virwani, the venture's largest shareholder in the venture, said existing investors will inject their own capital into the business if they have to, Reuters <a href="https://www.reuters.com/article/us-wework-india-funding/wework-india-fighting-for-new-funds-after-talks-with-local-lender-collapse-idUSKBN1WP17C">reported</a>. </li><li><a href="https://www.businessinsider.com/heres-the-latest-wework-news-2019-6">Read more WeWork news here</a>. </li></ul>WeWork's <a href="https://www.businessinsider.com/wework-postpones-ipo-indefinitely-under-new-co-ceos-2019-9" target="_blank" rel="noopener">failed initial public offering</a> is sending ripples through its businesses across the world. WeWork India, a franchise of the co-working giant, is looking to raise $200 million in new capital after a local lender in India pulled $100 million in funding, according to <a href="https://www.reuters.com/article/us-wework-india-funding/wework-india-fighting-for-new-funds-after-talks-with-local-lender-collapse-idUSKBN1WP17C">Reuters</a>. The venture isn't owned by The We Company - it's set up as a franchise run by a group of investors including Indian real estate developer Embassy Group. The consortium has reportedly considered selling as much as a 70% stake in WeWork India worth $2.75 billion back to the WeWork parent company, <a href="https://www.reuters.com/article/us-wework-india-funding/wework-india-fighting-for-new-funds-after-talks-with-local-lender-collapse-idUSKBN1WP17C">Reuters</a> found. Embassy Group chairman Jitu Virwani - the lead shareholder of WeWork India - told Reuters any talks to sell a stake back to The We Company have been put on hold while they raise cash. Embassy is in the process of raising about $563 million from asset sales that it would inject into WeWork India if necessary, according to Reuters. "Yes, it (WeWork's IPO failure) has been a bit of a challenge for us, we had a bit of a setback when we were looking to raise $100 million from ICICI. But we've decided to put our own money into the business (if needed)," Jirwani told a group of journalists, Reuters reported. WeWork parent The We Company pulled its <a href="https://www.businessinsider.com/wework-postpones-ipo-indefinitely-under-new-co-ceos-2019-9">initial public offering</a> after its co-founder and chief executive officer Adam Neumann stepped down in late September. Investors and analysts expressed concerns about the company's governance structure and path to profitability leading up to the IPO. "Adam Neumann or no Adam Neumann, our business is here to stay," Virwani told Reuters. Read more: <a href="https://www.businessinsider.com/wework-ipo-fiasco-marks-top-for-unicorns-tech-stock-trouble-2019-9" target="_blank" rel="noopener">Morgan Stanley says WeWork's failed IPO marks the end of an era for unprofitable unicorns - and explains why it leaves the market's tech kingpins vulnerable</a>

WeWork's India business is trying to raise $200 million after prior funding was pulled following the firm's botched IPO

New Delhi, Feb 11 () Co-working major WeWork India, owned by realty firm Embassy Group, on Tuesday said it is extending the company's medical insurance benefits to same-sex domestic partners of its employees. This step is a commitment by the company to acknowledge and celebrate diversity and inclusion among its employees through its people practices, WeWork India said in a statement. WeWork, which has over 500 employees in India, is the first collaborative workspace provider in the country to offer health insurance cover to partners of all LGBTQ employees, the statement added. "WeWork as a brand believes in leveraging the diversity of our people and is taking steps to celebrate the spirit of inclusion. Today we announce our insurance coverage policy to be LGBTQ friendly and all WeWork India employees, irrespective of gender or sexual orientation, will now be able to add partners as dependents and gain the same benefits," WeWork India Head of People Priti Shetty said. She added that the partners providing health insurance benefits are Futurerisk and The Oriental Insurance Company. "We have to respect each individual's diverse needs to foster a truly inclusive culture. The insurance coverage for our LGBTQ colleagues is a step in that direction," Shetty said. Bengaluru-based Embassy Group, a major player in Indian commercial real estate sector, had partnered US-based WeWork in 2016 to enter into co-working business for the Indian market. As of February 2020, WeWork India has 34 locations across six cities and more than 40,000 memberships, including enterprises. SR SR ANUANU

WeWork India extends medical benefits to partners of LGBTQ employees

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

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

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, 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

Just when young entrepreneurs were struggling to make it big in the startup industry in India, enters <keyword id="3195050" type="UNKNOWN" weightage="20" keywordseo="Adam-Neumann">Adam Neumann</keyword> as a much needed mentor. With the motto, doing local business with a global playbook, <keyword id="2918346" type="UNKNOWN" weightage="20" keywordseo="WeWork">WeWork</keyword>, a company which provides shared workspace, community, and services for entrepreneurs, freelancers, startups and small businesses, declares its plan to set up shop in India soon. 
 
“The good thing about India is that they believe in something great about themselves,” said Neumann. 
 
He added that this is the first time he is witnessing a discussion process so democratic, with all the players at the same table, something which is not possible even in the US. 
 
“This is pure democracy for the first time,” he said. 
 
Adam’s enthusiasm and passion towards his company is shared by all his employees. He wants to leverage India’s workforce, which is the largest in the world, to build a global community. 
 
Started at a time when Adam was clueless and had one intention- earn lots of money. But his life partner made him realise that if one does what he/she is passionate about, one need not worry about money. Thus was born WeWork as buildings and community were the two most important things to him. 
 
WeWork is the symbol of Adam’s strength and unity, qualities infused in him during his training in the Israeli army when he was 18. 
“Most of us depend on the other to put 100% and drive the change. I learned that if every one of us gives 100%, we can achieve anything and can change the world.” 
 
Business Insider India gives you five reasons why WeWork is a dream job for every entrepreneur. 
 
1. WeWork hires only those who believe in doing something with an intention or a meaning 
 
“83% of young entrepreneurs prefer a job with intentions and lower pay than a job with no intentions at all,” said Adam. 
 
2. WeWork not only give you the fish, it teaches you how to fish too. 
 
3. The company believes in touching hearts through their work. 
 
Adam said that this is also how he makes brilliant deals with landlords. 
 
4. Collaboration is their secret of innovation. 
 
5. Adam believes that the right business brings money on its own. Don’t go behind money. Just ask this simple question every time you do something, “Are you passionate about it and willing to sacrifice a lot. If you are then the work will bring a smile on your face at the end of the day.”

Adam Neumann’s WeWork is hiring in India! CEO, COO, CFO, CMO positions up for grabs

<ul><li>The pandemic has had an enduring effect on our work lives. More and more organizations and individuals are preferring flexibility when it comes to workspaces.</li><li>We recently caught up with <keyword id="11962916" type="General" weightage="20" keywordseo="Dharam-Mehta" source="Orion">Dharam Mehta</keyword>, Head of Business Operations, <keyword id="2918346" type="General" weightage="20" keywordseo="wework" source="Orion">WeWork</keyword> India who helped us understand the impact the pandemic has had on the <keyword id="2498362" type="General" weightage="20" keywordseo="co-working" source="Orion">co-working</keyword> space, where things stand now and what the future of flexible and co-working spaces will look like.</li></ul>The last 17 months have seen workplaces go through different phases as work cultures slowly evolve, thanks to the enduring impact of the pandemic on our lives. Companies that could never considered remote work are now considering it seriously. And this could come as a blessing for the <keyword id="7047107" type="General" weightage="20" keywordseo="flexible-workspaces" source="Orion">flexible workspaces</keyword> segment . A study by McKinsey from earlier this year revealed that the 278 executives it surveyed in August 2020, are on an average, planning to reduce office space by 30%. The future of the the workspace seems hybrid. Most companies are charting plans to introduce rostered work shifts and flexible timings into their model. While a lot of us were happy about the cut down in travel due to the lockdown, the pandemic and the work-from-home situation has led to fatigue, people want to go out, interact more and that’s where again, flexible workspaces could be a boon for companies and employees. In a recent conversation with Dharam Mehta, Head of Business Operations, WeWork India, we tried to understand the impact the pandemic has had on the co-working space, where things stand now and what the future of flexible and co-working spaces will look like. Excerpts: Q) After the second wave, most companies are considering a hybrid work model which could help co-working spaces. What is the opportunity for the industry? In the past few months, employees have inevitably been challenged by the long-term fatigue, limited social interaction and inadequate infrastructure which have become synonymous with work-from=home. This has taken quite a toll on the mental health of employees, with work-life balance and compartmentalization a priority, now more than ever. According to a recent report by Microsoft, 73% workers said they are craving more in-person time with their teams. And more than 3 in 4 Indian workers (74%) are keen on flexible remote work options. This sheds light on the growing potential for flexible workspaces, which cater to the evolving needs of businesses and the ever-expanding workforce. As the hybrid work scenario evolves, people want to stay and work closer to home. Flexible workspace providers like WeWork help reduce commute time by offering flexibility and customization; contributing to increased productivity and a stronger work-life balance through spaces in prime locations. Additionally, with the safety and health of employees at the forefront of conversations, businesses are looking for flexible workspaces with the highest levels of safety protocols in place, while also looking for options that are accessible to employees across the country. WeWork has always had stringent health protocols in place and has advanced these measures to ensure a safe working environment for our members. We also offer access to a culture of community, collaboration and networking on a global scale. With young, ambitious people looking to network and grow, this enables enterprises to expand their talent pool as well. Q) How have things been for WeWork from a business perspective? The last year and a half has been challenging for all industries. That being said, we have seen a consistent uptick in the demand for our workspaces. In fact, the first quarter of 2021 was our best sales quarter yet at WeWork India, with 10,000 desks sold. 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 over 7 lakh sq ft of area being sold (over 10% of the total leasing in the market). In line with our commitment to long-term growth, in April 2021, we announced a fresh round of funding of Rs 200 crore as well. This comes after an initial round of funding from WeWork Global of $100 million in June 2020, reiterating stakeholder confidence in the flexible workspace industry in India On the demand side, flexible workspaces continue to witness an uptick given the various solutions it offers to businesses of all sizes. There is also a definite rise in large corporations and enterprises adopting the flexible workspace model. In its latest report for the office market, property consultant Cushman and Wakefield said the total seats leased by enterprises could cross 50,000 during the 2021 calendar year. We have seen a consistent rise in large enterprises wanting to shift to our workspaces and sign long-term deals. Over 60% of our member base in India comprises large enterprises and since the lockdown, we have seen a 10% rise in our enterprise portfolio. Flexible lease options and customized product offerings provided by WeWork promote business agility that enable long term expansion and employee retention. For eg: Tata Sky Broadband in May 2021 signed a one year commitment to our On-Demand service, making WeWork its workspace of choice for its 250 employees. This allows TATA Sky Broadband employees to work from any WeWork location across the country, and using the On-Demand product, teams can choose when and where they would like to come together and collaborate. Colliers India has also recently shifted their headquarters to WeWork at Two Horizon Center in Gurugram. This is a specially curated and designed workspace for the company, providing them with the ease of access and flexibility they require. Q) Do you anticipate there will be an increase in the number of individuals opting for co-working spaces too, in post second-wave times? With the new normal blurring the lines between work and personal life, more and more people are looking to come back to work and have realized the importance of compartmentalization. With more and more time being spent indoors, the opportunity to engage and collaborate with co-workers has been limited. In such times it is more important than ever to ensure a sense of community. WeWork, through its collaboration, networking opportunities provide its members a sense of community in their workspace, which offers small businesses an added benefit. Infact, while 60% of our member base is currently enterprise, the rest 40% comprises individuals, small and medium size businesses as well. Our successful growth through the first quarter is a result of growth across all sizes of businesses. Furthermore, entrepreneurs, startups and small businesses find a stronger sense of community at our workspaces. The networking opportunities available at our spaces are often unparalleled and are a contributing factor to this demand. Q) What does WeWork's virtual offices entail? How can people benefit from it? At WeWork, we are constantly looking for ways to create an accessible and easy way of working for our members and all the companies we work with. We noticed the gap in the fact that companies which need to be registered in India need to have an office address and to address that need, we announced our new product offering Virtual Offices. This is running in all 6 cities of WeWork India where we are offering our network of office spaces for businesses to use as their own address on a subscription basis. This allows companies a professional address which goes on to their business cards, becomes their communication address and gives them access to all 35 WeWork buildings across 6 cities in India. Till date, we have already catered to more than 100 companies where the process is completely self-serve and digital and helps save valuable customer time as it takes a couple of minutes. It has various favourable packages starting from 6 months that goes upto 24 months. These memberships also include monthly credits worth Rs 2500 as an introductory offer. Additional benefits bundled into the offering include mail handling and storage facilities, ability to use credits to access meeting rooms or to use them as day passes across the entire WeWork network in India. These benefits can be availed by any employee in these companies as well. Prioritizing health and ease of usage for potential members, WeWork has ensured an end-to-end digital process for registration including NOC signing and agreement processing which can be done within a couple of minutes. Q) While things are slowly getting back to normal, we are still some time away from people getting completely comfortable with sharing spaces. How are you then encouraging and assuring people/corporates about the safety of coming to your office spaces? We were quick in reviewing member feedback, and worked with industry partners across health and safety, cleaning, construction, and design to provide enhancements and developed a workable plan to safeguard our members and employees. We have focused on constantly engaging with our members and employees, by listening to their needs and requirements and also ensuring we kept in touch through the lockdown via virtual events and regular catch-ups. As some of the key precautionary measures, all our buildings are fumigated and sanitised thoroughly before members come in. From a seating arrangement perspective, spaces in common areas and conference rooms are modified to ensure a minimum of 6 feet distance between two people. We have also implemented mandatory temperature screenings outside our buildings and all our members and employees will go through that check before entering the space. We also launched the WeWork Safe Program in partnership with Dettol to deliver industry-defining standards of cleanliness and disinfection across all our buildings. We are also the only shared workspace in the country to have received the global certification from The British Safety Council, for our efforts in taking stringent risk management and control measures to keep the environment safe and secure for all members and stakeholders. Q) With more and more people wanting to cut down on travel, and wanting to work from close to their homes, what are your plans of further expanding your presence and also entering smaller cities? At WeWork, flexibility is our core competency and what we do best, be it pricing, occupancy models, locations or scalability, WeWork is equipped to offer the most flexible and customizable solutions to businesses in a very short span of time in any of our 35 buildings across 6 cities. Our membership model of hot desks, dedicated desks, and private offices have already found popularity among enterprises and small businesses. Added to that, the new product offerings such as WeWork On Demand, WeWork All Access and WeWork Business Solutions offer flexibility to businesses and entrepreneurs to make decisions for their businesses to thrive without the burden of fixed asset investments. As of now, our plans are to provide all our members the safest, most hygienic and customized workspaces that help them achieve their goals. Our goal, for the foreseeable future is sustainable growth and profitability. We will continue to innovate on how we can enhance our member experiences and continue to add value to their businesses. Q) What will the workplace of the future look like? The pandemic has been a catalyst for a new future of work. While companies proved that working from home is possible, most don’t intend to be 100% remote forever. The workplace of the future is hybrid in nature and flexible at its core. The main driving forces behind businesses opting for flexible workspaces like WeWork, will continue to be flexibility, agility, safety and community at the workplace. What this challenging period has done is created a desire for asset-light models which enables adaptability. This has led to the intent of moving real estate costs to a variable expense as opposed to a fixed one, which would unlock significant cash in hand. This gives the much needed agility to businesses to react to market fluctuations in a swift and smoother manner. From a member/employee perspective, high standards of safety and hygiene will continue to be paramount. Fostering a company culture and a sense of community are also essential to maintaining employee engagement and well-being, amplified in today’s times after this prolonged social isolation. The extended WFH situation has taken a toll on overall mental being and employees are craving compartmentalization and a work-life balance along with the flexibility of being able to work from convenient locations. At WeWork India, we strongly believe that flexible workspaces will continue to drive the future of work in the post-COVID scenario. Q) What are a few trends in the shared workspaces industry that we should watch out for? The new normal has led to the emergence of new working styles, such as rostered work shifts and flexible timings. There is a definite rise in large corporations and enterprises adopting the flexible workspace model. In its latest report for the office market, property consultant Cushman and Wakefield said the total seats leased by enterprises could cross 50,000 during the 2021 calendar year. More organisations are embracing the idea of flexible workspaces as a viable option as they are able to save on overhead costs and fixed assets. According to a recent report by Microsoft, 73 per cent of workers said they are craving more in-person time with their teams and more than 3 in 4 Indian workers (74 per cent) are keen on flexible remote work options, a Deloitte study states that 94 percent of respondents indicated they would benefit from work flexibility, where 43 per cent of respondents have said that workplace flexibility is the best for having stable mental health. According to the Accenture Future of Work Study 2021, 83% of employees surveyed favoured a hybrid work model where 85% of the corporates feel that being a part of a flexible work model could help them stay longer with an organisation. Furthermore, employees have wanted to come back to work, with many companies recognising the importance of teamwork dynamics contributing towards productivity. After prolonged work from home in isolation, we have seen the toll taken on mental health, collaboration, performance management and most importantly, <keyword id="6458484" type="General" weightage="20" keywordseo="work-culture" source="Orion">work culture</keyword>.

You Searched For "wework india" and got 13 results

WeWork files for bankruptcy but India's operations not affected

IANS

Israeli startup, which is entering India, just got $430 million funding

BI India Bureau

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

PTI

WeWork's India chief is inviting Jet Airways staff to apply for jobs

Sriram Iyer

WeWork is laying off 2,400 employees globally, but its India business remains safe

Sanchita Dash

WeWork's India business is trying to raise $200 million after prior funding was pulled following the firm's botched IPO

Daniel Strauss

WeWork India extends medical benefits to partners of LGBTQ employees

PTI

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

IANS

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

IANS

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

PTI

Lockdown impact: WeWork India to lay off around 100 employees

PTI

Adam Neumann’s WeWork is hiring in India! CEO, COO, CFO, CMO positions up for grabs

Usha Rani Das

This challenging period has created a desire for asset-light models which enables adaptability: Dharam Mehta, WeWork India

Samarpita Banerjee

Popular Keywords

Buying Guides