WeWork cut rent prices again last month as pandemic pressures continue

• WeWork (WE) cut the price for most U.S. rentals for the second time last month with an average reduction of about 10%, according to Bloomberg data.
• The price cuts ranged from 5-25% and were disclosed in the source code of WeWork's website, which was spotted and collected by data analytics consultancy Audeff Research.
• WeWork was already scurrying to cut costs before the pandemic hit thanks to the failed IPO and subsequent bailout from investor SoftBank.
• In October, WeWork Executive Chairman Marcelo Claure said the company should have a profitable quarter in 2021 and generate a positive cash flow in 2022.
• Last month, the WSJ reported that WeWork was in talks to make another public debut attempt through a SPAC merger.