<p>Troubled office-sharing start-up WeWork is set to have a positive cash flow by next year, its executive chairman told the Financial Times on Sunday, hailing a turn-around for the high-profile company.</p>.<p>"Everybody thought WeWork was mission impossible. [That we had] zero chance. And now, a year from now, you are going to see WeWork to basically be a profitable venture with an incredible diversity of assets," Marcelo Claure said.</p>.<p>Claure told the Financial Times that the New York-based company's revival was ahead of schedule after cutting its workforce by 8,000, renegotiating leases and selling assets.</p>.<p>He also cited strong demand for flexible workspace since the start of the coronavirus pandemic, with companies seeking small, satellite offices near where employees live.</p>.<p>The SoftBank-backed company was once hailed as a dazzling unicorn valued at $47 billion, before hemorrhaging cash and cancelling its share offering in 2019, with founder Adam Neumann pushed out.</p>.<p>Some tenants had refused to pay rent during Covid-19 shutdowns, but Claure said Mastercard, ByteDance, Microsoft and Citigroup had all recently signed lease deals with WeWork.</p>
<p>Troubled office-sharing start-up WeWork is set to have a positive cash flow by next year, its executive chairman told the Financial Times on Sunday, hailing a turn-around for the high-profile company.</p>.<p>"Everybody thought WeWork was mission impossible. [That we had] zero chance. And now, a year from now, you are going to see WeWork to basically be a profitable venture with an incredible diversity of assets," Marcelo Claure said.</p>.<p>Claure told the Financial Times that the New York-based company's revival was ahead of schedule after cutting its workforce by 8,000, renegotiating leases and selling assets.</p>.<p>He also cited strong demand for flexible workspace since the start of the coronavirus pandemic, with companies seeking small, satellite offices near where employees live.</p>.<p>The SoftBank-backed company was once hailed as a dazzling unicorn valued at $47 billion, before hemorrhaging cash and cancelling its share offering in 2019, with founder Adam Neumann pushed out.</p>.<p>Some tenants had refused to pay rent during Covid-19 shutdowns, but Claure said Mastercard, ByteDance, Microsoft and Citigroup had all recently signed lease deals with WeWork.</p>