WeWork nearly blew through all of its rescue package from SoftBank and in December expected to have $300 million in cash at the end of 2022, less than one-third of what it had at the end of 2021, WSJ reported. Its cash problems, coupled with "deteriorating macro conditions in 2023," led Fitch to downgrade WeWork's rating to one of its lowest ranks, "CCC," in December, meaning WeWork has "substantial credit risk" and a "very low margin for safety. Default is a real possibility," according to Fitch. "Without additional restructuring, Fitch is modeling continued negative EBITDA [earnings before interest, taxes, depreciation and amortization] for the next 12 to 18 months," the credit ratings agency wrote. WeWork's stock fell nearly 4 percent on Thursday morning after the announced job cuts, and its stock has sunk almost 84 percent compared to the same time last year. Despite all that, WeWork does have some positives.