WeWork bags US govt contract for providing hybrid working model
Real Estate

WeWork bags US govt contract for providing hybrid working model

Office-sharing startup WeWork has bagged a US government contract to provide flexible working solutions to government employees as the surge in Covid-19 cases has forced employers to reconsider a complete return to offices.

A spokesperson for the SoftBank Group Corp-backed firm told the media that the contract, granted by the U.S. General Services Administration to WeWork and four other contractors, is for $10 million yearly and a term of five years.

The Covid-19 pandemic has marked a shift away from a conventional stand-alone workplace and towards a more hybrid work model where employees have flexible options to work from offices, co-working spaces, public places and home.

The fast-spreading Delta variant of the coronavirus and the following tightening of restrictions in some areas have increased concerns for office space providers since businesses opt for shorter leases and many employees continue to work remotely.

Earlier this month, WeWork recorded a drop in second-quarter earnings from the previous three months since the Delta variant stoked a slower-than-expected recovery for the first half of the year.

Various U.S. federal firms last month mandated masks at government buildings in Covid-19 hot spots in line with guidance issued by the White House.

WeWork in March agreed to go public through a merger with BowX Acquisition Corp, a special purpose acquisition firm, in a contract that valued it at $9 billion.

Image Source


Also read: Colive transforms co-living properties into hybrid accommodations

Office-sharing startup WeWork has bagged a US government contract to provide flexible working solutions to government employees as the surge in Covid-19 cases has forced employers to reconsider a complete return to offices. A spokesperson for the SoftBank Group Corp-backed firm told the media that the contract, granted by the U.S. General Services Administration to WeWork and four other contractors, is for $10 million yearly and a term of five years. The Covid-19 pandemic has marked a shift away from a conventional stand-alone workplace and towards a more hybrid work model where employees have flexible options to work from offices, co-working spaces, public places and home. The fast-spreading Delta variant of the coronavirus and the following tightening of restrictions in some areas have increased concerns for office space providers since businesses opt for shorter leases and many employees continue to work remotely. Earlier this month, WeWork recorded a drop in second-quarter earnings from the previous three months since the Delta variant stoked a slower-than-expected recovery for the first half of the year. Various U.S. federal firms last month mandated masks at government buildings in Covid-19 hot spots in line with guidance issued by the White House. WeWork in March agreed to go public through a merger with BowX Acquisition Corp, a special purpose acquisition firm, in a contract that valued it at $9 billion. Image Source Also read: Colive transforms co-living properties into hybrid accommodations

Next Story
Infrastructure Transport

NF Railway Launches Girder on World’s Tallest Pier Bridge in Manipur

The Northeast Frontier Railway (NFR) has reached a significant engineering milestone by successfully completing the girder launch on the iconic Noney Bridge in Manipur.Regarded as an engineering marvel, the Noney Bridge is recognized as the world’s tallest railway pier bridge. It forms a crucial part of the 111 km long Jiribam-Imphal railway line project.Recently, the final span of the bridge was successfully erected, marking the completion of all eight spans of this monumental infrastructure venture.Kapinjal Kishore Sharma, Chief Public Relations Officer of NFR, stated that this accomplishm..

Next Story
Infrastructure Urban

Cube Highways Trust Reports Rs 34.53 Bn Total Income in FY25

Cube Highways Trust (Cube InvIT), managed by Cube Highways Fund Advisors, concluded its second financial year post-listing on a strong note by reporting a total consolidated income of Rs 34.53 billion for the financial year 2025, marking a 12.3 percent year-on-year (YoY) increase.According to the official media release, Cube InvIT posted a consolidated earnings before interest, tax, depreciation, and amortisation (EBITDA) of Rs 2,380 crore, reflecting a 21.7 percent YoY growth. During the year, traffic volumes increased by 6.2 percent, while the Asset Under Management (AUM) grew 25 percent to ..

Next Story
Infrastructure Transport

New Flyover to Ease Traffic on Hyderabad’s Busiest Road

To improve urban connectivity and reduce traffic congestion in the city, the Greater Hyderabad Municipal Corporation (GHMC) will undertake the construction of a two-lane unidirectional flyover at NFCL Junction in Banjara Hills, along with a two-lane unidirectional underpass and a three-lane unidirectional flyover at TV9 Junction, as part of the state government’s prestigious Hyderabad City Innovative and Transformative Infrastructure (H-CITI) programme.The NFCL Junction flyover will be a two-lane unidirectional structure extending from Banjara Hills Road No. 3 towards GVK Mall. It is planned..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?