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WeWork to leave some Bay Area buildings in another blow to office market [San Francisco Chronicle] Feb. 4 WeWork, once seen as a herald of the flexible office of the future with seemingly endless growth plans, is scaling back in the Bay Area as office demand remains stagnant. The New York company is closing multiple locations in the Bay Area and exiting leases, a spokesperson confirmed, but she declined to identify the properties. It’s a sharp reversal to the company’s explosive growth in the past decade, which included 25 Bay Area locations and over 700 globally, making it the largest private tenant in Manhattan and one of the biggest in San Francisco. The company signed long-term office leases and rented out desks by the month to startups and later, corporate giants, but a failed initial public offering in the fall of 2019 led to thousands of layoffs. Then the coronavirus pandemic slammed the traditional workplace and froze office markets across urban centers.

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