How SoftBank says it’ll fix WeWork and turn it profitable www.latimes.com

WeWork can be fixed — and there’s a plan, according to SoftBank Group Corp., which offered the cash-strapped, unprofitable office-sharing company a lifeline in exchange for majority ownership.
To transform the money-losing startup into a profitable company, Son said he’s ordered a halt to new building developments, which tend to lose money for the first year or so before occupancy picks up.
Next, he said, he’s slashing expenses and getting rid of all unprofitable WeWork businesses, failing to elaborate on what those were.
SoftBank will take a $4.7-billion hit from WeWork on its non-operating profit, according to Son’s presentation.
“It will likely be a lengthy process to fix WeWork,” said Bloomberg Intelligence analyst Anthea Lai.