Tell HN: WeWork asked me 2,220€ for 1 dedicated desk for 1 month

4 points

3 years ago

I was looking for 1 dedicated desk in a WeWork located in Milan, Italy for only 1 month.

Desk pricing: 530€/month (VAT excluded).

Installation: 100€ one-time

Deposit (refunded within 30d):

  - if I pay with Bank direct debit: 1.5x desk pricing = 795€

  - if I pay with credit card: 2x desk pricing = 1060€

  - if I pay with bank wire: 3x desk pricing = 1590€

Since I will pay using bank wire (the most common payment method for this amount range) I need to send them 530+100 + 1590€ = 2,220€ just for using a wood desk and a chair for 1 month!

I could understand the desk pricing + installation. It's expensive but reasonable.

Instead I am quite scared by the deposit amount. No other coworking never asked me for a deposit.

In other terms, they are asking me a 1590€ short term loan. According to last financial reports WeWork has a $-4B loss and $2B revenue in 2021.

It looks to me they are on the edge of bankruptcy. They highly need liquidity.

Is it different in other part of the world?

We work financials: https://www.nasdaq.com/market-activity/stocks/we/financials

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