WeWork is seeking a $4 billion lifeline from SoftBank and JPMorgan, according to Reuters.
The shared workspace group is in talks with its largest investor for a $1 billion injection, which it hopes to parlay into a $3 billion debt deal with the bank, Reuters reported, citing people familiar with the discussions.
WeWork is hoping to secure the funds as early as next week, when it expects to outline planned job cuts and asset sales to employees following the collapse of its IPO last month, Reuters said. However, JPMorgan is reluctant to begin serious negotiations before WeWork strikes a new deal with SoftBank, one source told the news outlet.
