{"id":15214,"date":"2023-04-18T21:49:08","date_gmt":"2023-04-18T21:49:08","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/wework-receives-non-compliance-notice\/"},"modified":"2023-04-18T21:50:44","modified_gmt":"2023-04-18T21:50:44","slug":"wework-receives-non-compliance-notice","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/wework-receives-non-compliance-notice\/","title":{"rendered":"WeWork receives non-compliance notice from NYSE"},"content":{"rendered":"

(Reuters) – WeWork Inc said on Tuesday that it had received a non-compliance notice from the New York Stock Exchange, as its stock traded below $1 over a 30 day period.<\/p>\n

The notice will not result in immediate de-listing and the company will have six months to regain compliance, the flexible workspace provider said.<\/p>\n

Debt-laden WeWork last month struck deals to cut its debt by about $1.5 billion and extend the date of some maturities to preserve cash as it struggles to turn a quarterly profit since going public in 2021.<\/p>\n

The company benefited from a pandemic-driven shift to flexible work outside traditional offices but has been feeling the impact from mass layoffs across the tech sector.<\/p>\n

WeWork shares have fallen 65% year to date, resulting in a market capitalization of $360.9 million, according to Refinitiv data. It was valued at as much as $47 billion in 2019.<\/p>\n

\n

(Reporting by Pratyush Thakur in Bengaluru; Editing by Anil D’Silva)<\/p>\n

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(Reuters) – WeWork Inc said on Tuesday that it had received a non-compliance notice from the New York Stock Exchange, as its stock traded below $1 over a 30 day period. The notice will not result in immediate de-listing and the company will have six months to regain compliance, the flexible workspace provider said. Debt-laden […]<\/p>\n","protected":false},"author":8,"featured_media":15215,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1213],"tags":[],"class_list":["post-15214","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-business"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ3H0WT-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/15214","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=15214"}],"version-history":[{"count":1,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/15214\/revisions"}],"predecessor-version":[{"id":15216,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/15214\/revisions\/15216"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/15215"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=15214"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=15214"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=15214"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}