Latest news with #JohnSantora
Business Times
07-07-2025
- Business
- Business Times
WeWork signs new lease in lower Manhattan, expanding New York City bet
[NEW YORK] WeWork signed a lease in lower Manhattan for a new location as coworking demand in the city rises. The firm is taking 60,000-square-foot (5,570-square-metre) of space at 250 Broadway, according to a statement on Monday (Jul 7). The new location, which spans five floors, is expected to open in December. 'New York City holds immense value and opportunity for WeWork,' chief executive officer John Santora said in the statement. 'It's not only where the company began and now operates over three million square feet, but it's also one of the critical launchpads for our new era of strategic growth.' WeWork plans to invest as much as US$100 million to boost its global portfolio this year. This year to April, bookings for the firm's monthly coworking membership were up 10 per cent in New York City, the firm said. WeWork, which emerged from bankruptcy last year, has been embarking on a global restructuring that included cutting unprofitable leases. Santora, who previously worked at brokerage Cushman & Wakefield, was named CEO last year. Peter Riguardi and Clark Finney of Jones Lang LaSalle represented WeWork in the lease negotiations at 250 Broadway, while the landlord, AmTrust RE, was advised by CBRE Group brokers. BLOOMBERG
Times
28-06-2025
- Business
- Times
WeWork CEO: My firefighter dad taught me how to lead
J ohn Santora eyes my tie with a look not far from envy. Dressed in a sports jacket, chinos and brown loafers, the American's eyes then move jealously across my suit. 'Ah,' he says, gesturing uncomfortably at his casual garb: 'I still can't get used to having to wear this stuff.' Santora, you see, is the lifelong suit, tie and brogues man helicoptered in to run that most relaxed of temporary-office providers, WeWork. Many of the 68-year-old's customers, as we see in its flagship venue in London's Waterloo, are the kind of thirtysomething tech bros who think wearing jeans not deliberately ripped at the knee is 'dressing up for work'. Santora feels obliged to follow, but stands out like a dad at the school disco.
Yahoo
26-04-2025
- Business
- Yahoo
WeWork CEO says tariff uncertainty is actually good for his business: 'Who's prepared to commit to a 10- or 15-year lease?'
Many businesses are bracing for negative impacts from tariffs. WeWork actually sees an upside. Its CEO told Semafor that tariff uncertainty is actually a boon for the coworking space company. "With all the uncertainty around tariffs, who's prepared to commit to a 10- or 15-year lease?" he said. Many companies are sounding the alarm on the negative repercussions of tariffs on their businesses. Not WeWork. WeWork CEO John Santora said Thursday at the Semafor World Economy Summit that the economic uncertainty around tariffs has actually attracted more business for the coworking space company. "So if we look at it and just take today's environment with all the uncertainty around tariffs and what's happening, who's prepared to commit to a 10- or a 15-year lease with $50 or $100 million spend?" Santora said. "The world, business, investments are all on a pause right now until you determine what impact it's going to have on your company, on your supply chain, on the cost of all of that," he added. "So we're seeing companies that are in our spaces today extend, companies that haven't been in our spaces before talking to us about 'Can you fill the short-term gap for us? What can you do for the next six months?'" Santora expanded on his remarks in an interview with Bloomberg on Friday, saying WeWork's clients "look to a player like us to give them that flexibility." "You have to pause," he told Bloomberg of how his clients are thinking of the uncertain economic environment. "You have to think about it. You have to think whether or not to invest that major capital in a market, at least through this short term. You have to step back." Besides tariffs and their consequences, return-to-office mandates could also drive business for WeWork, Santora said. "The other thing is, do we really know how many people are going to be in the office? We don't," he told Semafor. "We don't know whether it's going to be three days a week, four days a week, five days a week. We can mandate it, or firms mandate it, but by taking that short-term look at it, do two years with us, do three years with us. At that point, you know where your business is heading." It's been a tumultuous few years for WeWork, which saw the exit of founder and former CEO Adam Neumann in 2019. His departure followed a failed IPO marred by concerns about WeWork's business model, valuation, and governance. WeWork eventually went public via a SPAC in 2021. The company later filed for Chapter 11 bankruptcy in 2023. WeWork declined to provide additional comment. Read the original article on Business Insider Sign in to access your portfolio
Yahoo
26-04-2025
- Business
- Yahoo
WeWork CEO says tariff uncertainty is actually good for his business: 'Who's prepared to commit to a 10- or 15-year lease?'
Many businesses are bracing for negative impacts from tariffs. WeWork actually sees an upside. Its CEO told Semafor that tariff uncertainty is actually a boon for the coworking space company. "With all the uncertainty around tariffs, who's prepared to commit to a 10- or 15-year lease?" he said. Many companies are sounding the alarm on the negative repercussions of tariffs on their businesses. Not WeWork. WeWork CEO John Santora said Thursday at the Semafor World Economy Summit that the economic uncertainty around tariffs has actually attracted more business for the coworking space company. "So if we look at it and just take today's environment with all the uncertainty around tariffs and what's happening, who's prepared to commit to a 10- or a 15-year lease with $50 or $100 million spend?" Santora said. "The world, business, investments are all on a pause right now until you determine what impact it's going to have on your company, on your supply chain, on the cost of all of that," he added. "So we're seeing companies that are in our spaces today extend, companies that haven't been in our spaces before talking to us about 'Can you fill the short-term gap for us? What can you do for the next six months?'" Santora expanded on his remarks in an interview with Bloomberg on Friday, saying WeWork's clients "look to a player like us to give them that flexibility." "You have to pause," he told Bloomberg of how his clients are thinking of the uncertain economic environment. "You have to think about it. You have to think whether or not to invest that major capital in a market, at least through this short term. You have to step back." Besides tariffs and their consequences, return-to-office mandates could also drive business for WeWork, Santora said. "The other thing is, do we really know how many people are going to be in the office? We don't," he told Semafor. "We don't know whether it's going to be three days a week, four days a week, five days a week. We can mandate it, or firms mandate it, but by taking that short-term look at it, do two years with us, do three years with us. At that point, you know where your business is heading." It's been a tumultuous few years for WeWork, which saw the exit of founder and former CEO Adam Neumann in 2019. His departure followed a failed IPO marred by concerns about WeWork's business model, valuation, and governance. WeWork eventually went public via a SPAC in 2021. The company later filed for Chapter 11 bankruptcy in 2023. WeWork declined to provide additional comment. Read the original article on Business Insider
Business Insider
26-04-2025
- Business
- Business Insider
WeWork CEO says tariff uncertainty is actually good for his business: 'Who's prepared to commit to a 10- or 15-year lease?'
Many companies are sounding the alarm on the negative repercussions of tariffs on their businesses. Not WeWork. WeWork CEO John Santora said Thursday at the Semafor World Economy Summit that the economic uncertainty around tariffs has actually attracted more business for the coworking space company. "So if we look at it and just take today's environment with all the uncertainty around tariffs and what's happening, who's prepared to commit to a 10- or a 15-year lease with $50 or $100 million spend?" Santora said. "The world, business, investments are all on a pause right now until you determine what impact it's going to have on your company, on your supply chain, on the cost of all of that," he added. "So we're seeing companies that are in our spaces today extend, companies that haven't been in our spaces before talking to us about 'Can you fill the short-term gap for us? What can you do for the next six months?'" Santora expanded on his remarks in an interview with Bloomberg on Friday, saying WeWork's clients "look to a player like us to give them that flexibility." "You have to pause," he told Bloomberg of how his clients are thinking of the uncertain economic environment. "You have to think about it. You have to think whether or not to invest that major capital in a market, at least through this short term. You have to step back." Besides tariffs and their consequences, return-to-office mandates could also drive business for WeWork, Santora said. "The other thing is, do we really know how many people are going to be in the office? We don't," he told Semafor. "We don't know whether it's going to be three days a week, four days a week, five days a week. We can mandate it, or firms mandate it, but by taking that short-term look at it, do two years with us, do three years with us. At that point, you know where your business is heading." It's been a tumultuous few years for WeWork, which saw the exit of founder and former CEO Adam Neumann in 2019. His departure followed a failed IPO marred by concerns about WeWork's business model, valuation, and governance. WeWork eventually went public via a SPAC in 2021. The company later filed for Chapter 11 bankruptcy in 2023. WeWork declined to provide additional comment.
