Shares for WeWork have plunged roughly 98% in 2023 alone. In May, WeWork announced a leadership shakeup with the departure of its chairman and CEO Sandeep Mathrani, a real estate executive who investors hoped would save the company. David Tolley, a WeWork board member, stepped up as interim chief executive and was officially named CEO in October. In August, meanwhile, the company said that it had "substantial doubt" about its ability to stay in business over the next year as losses and debt continued to mount.