The New York-based company, which offers workstations, private offices and customized floors, had enjoyed a pandemic-driven shift to flexible work outside traditional offices.

But with companies cutting their spending, WeWork is looking to reduce its real estate footprint and workforce to prepare for a looming recession.

The company said on Thursday it expects to report fourth-quarter revenue and adjusted EBITDA above its earlier expectations.

WeWork in November announced its exit from 40 U.S. locations and said it expected fourth-quarter revenue between $870 million and $890 million, below Wall Street's target of $923.8 million.

It also forecast adjusted EBITDA to be negative $65 million to negative $85 million.