WeWork is in survival mode. The office-sharing giant, whose market value has plummeted to a mere $200 million, revealed its drastic plan to avoid bankruptcy on Wednesday. In a letter to its landlords, the company’s CEO announced that WeWork would seek to renegotiate “nearly all our leases” and slash its rent payments. This is the latest attempt by WeWork to salvage its business, which has been struggling since its botched IPO in 2019. #business #wework #starup #market