WeWork filed for bankruptcy in the US in 2022. The company struggled to recover from the effects of Covid-19 on the economy and its failed initial public offering in 2019.
In September, the CEO in a public letter emphasised that WeWork is not going anywhere and that it was immediately undergoing reworking its leases worldwide
Karan Virwani, the Chief Executive Officer of the Indian arm of the company said the ESOP surrender is yet another step towards wealth creation and empowering people