Honestly, if you haven't checked in on the office world for a year or two, you'd be forgiven for thinking the "We" brand was dead and buried. The headlines were brutal. Bankruptcy. Ousted founders. A valuation that fell faster than a lead balloon. But here we are in 2026, and the lights are still on. In fact, they're brighter than they've been in a long time.
So, what does WeWork do now that the dust from its chaotic 2024 restructuring has finally settled?
Forget the old hype about "elevating the world's consciousness." That’s gone. Today’s WeWork is a significantly leaner, software-backed real estate machine. It isn't just a place to get a desk and a lukewarm kombucha anymore. It has morphed into a hybrid work facilitator that manages about 45 million square feet of space across more than 30 countries. But the way it handles that space has changed fundamentally.
The Core Business: Flexibility Over Everything
At its simplest level, WeWork is a middleman. They take big, scary, long-term commercial leases and chop them up into bite-sized, flexible pieces for everyone else.
Think about a traditional office lease. You're usually looking at a 10-year commitment. You have to buy the chairs. You have to fix the Wi-Fi when it dies. You have to hire the cleaners. WeWork basically says, "Don't worry about any of that."
They handle the "boring" stuff—utilities, security, coffee, and even the office design—and let you pay for it month-to-month. In 2026, this "space-as-a-service" model is the company's bread and butter. After shedding billions in debt during its Chapter 11 era, the company now operates roughly 600 locations globally. That’s smaller than its peak, but those 600 spots are actually making money now.
Who is actually using it?
It’s not just freelancers in beanbag chairs.
- The Enterprise Crowd: Over 40% of the Fortune 100 still uses WeWork. Why? Because if a tech giant wants to test a new market in Berlin, they don't want to sign a 15-year lease. They grab a full floor at a WeWork for a year and see how it goes.
- The Hybrid "Hub": Small to mid-sized businesses use it as a central meeting point. Their employees work from home three days a week and come into the WeWork "hub" on Tuesdays and Thursdays.
- The On-Demand Nomad: This is the person using the WeWork All Access pass. You pay a flat monthly fee and can walk into almost any WeWork in the world. Need a desk in New York today and London next week? This is for you.
It’s Actually a Software Company Now (Kinda)
Under the majority ownership of Yardi Systems—a massive real estate software firm—WeWork has leaned hard into the "tech" label it used to just fake.
They launched something called WeWork Workplace.
This isn't a physical room. It's a software platform. It allows big companies to manage their entire real estate portfolio, even the offices they own themselves. If a company has three private offices and uses five WeWorks, their employees use the app to book desks across all of them. It gives bosses data on who is actually coming into the office and which desks are just gathering dust.
Data is the new beer on tap. In 2026, WeWork uses sensors and booking logs to tell a company exactly how many square feet they actually need. It turns out, most companies were paying for way too much space. WeWork helps them trim the fat.
Why the New Business Model is "Safer"
The old WeWork (the Adam Neumann era) was a ticking time bomb. They signed expensive, 20-year leases and hoped they could rent those desks out forever. When the pandemic hit, that gap between what they owed landlords and what members paid them became a canyon.
Today, under CEO John Santora, the strategy has shifted toward management agreements.
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Instead of being the "tenant" who pays rent, WeWork often acts more like a hotel manager. They partner with the building owner (the landlord) to run the space. They share the profits. This means if the economy dips, WeWork isn't on the hook for a massive monthly rent check they can't afford. It’s a much more boring way to run a business, but it’s the reason they’re still around.
The Physical Experience in 2026
If you walk into a location today, it feels different. The "party" vibe has been dialed down in favor of "professional hospitality."
You’ll still find the glass walls and the trendy light fixtures, but there’s a bigger focus on enhanced acoustics and privacy. One of the biggest complaints about the old coworking model was that it was too loud to actually get work done. The newer 2025 and 2026 build-outs have better soundproofing and more "phone booths" for those endless Zoom calls.
They’ve also doubled down on WeWork On Demand. You don't even need a membership. You can literally book a desk for $30 or $40 for a single day through an app, just like you’d book an Uber.
What Most People Get Wrong
People often think WeWork is just for startups. Honestly, that hasn't been true for years.
The biggest growth area is "Managed Office" solutions for massive corporations. A bank might ask WeWork to find a building, design it, and run it specifically for them. It’s called a Turnkey Platform. The bank gets their own branding on the door, but WeWork does all the heavy lifting in the background.
Actionable Insights: Is WeWork Right for You?
If you’re trying to figure out if your team should be using WeWork in this 2026 landscape, here is the reality check:
- Check the "All Access" Value: If your team is distributed, a few All Access passes are almost always cheaper than a private office.
- Look for Revenue-Share Locations: These are usually the best-maintained spots because the landlord has "skin in the game."
- Use the "On Demand" Test: Before signing a six-month commitment for a private office, spend three days working there on a day pass. Check the Wi-Fi speed at 2:00 PM and see if the conference rooms are actually available when you need them.
- Leverage the Tech: If you have more than 50 employees, ask about the Workplace software. It can often help you realize you only need 30 desks, not 50, saving you a fortune on your next contract.
WeWork has survived its "Icarus" moment. It’s no longer trying to change the world; it’s just trying to be the most efficient way to rent an office. For a company that was once the poster child for Silicon Valley excess, being "efficient" is the ultimate comeback.