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WeWork Rivals Pitch to Win Back Market Share Try Not to Gloat

  • After years of rapid growth, wary WeWork landlords seek plan B
  • Competitors who saw tenants poached see tables turn on WeWork
Members work inside the Spaces co-working office, operated by IWG Plc, in Geneva, Switzerland, on Sept. 24.

Members work inside the Spaces co-working office, operated by IWG Plc, in Geneva, Switzerland, on Sept. 24.

Photographer: Alberto Bernasconi/Bloomberg
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On its way up, WeWork poached customers with free rent and rich broker commissions, trampling on less wealthy and aggressive competitors to gain a seemingly dominant position. Now the tables are turning, and rivals are struggling to contain their glee.

“Happy birthday to me, happy birthday to me,” sang a senior executive of another co-working company who asked not to be identified.