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WeWork looks to become profitable in 2021

New chief Marcelo Claure plots shift away from risky long-term leases

A laid-off worker leaves WeWork's corporate headquarters in Manhattan on Nov. 21. The company plans to lay off about 20% of its global workforce.   © Reuters

NEW YORK -- Money-losing office-sharing company WeWork aims to turn a profit in 2021, a source familiar with the situation told Nikkei on Friday.

The target was set out in internal briefing materials by Marcelo Claure, chairman of WeWork parent We Co., the source said. The materials also call for cash flow to turn positive in 2023.

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