WeWork US is closing about 40 underperforming locations in the

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A recession is going to affect WeWork's operations materially

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WeWork reported expected losses and slow sales growth in its most recent quarter

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WeWork expects fourth-quarter revenue between $870 million and $890 million, below the Wall Street target of $923.8 million

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Shares of WeWork fell 8% in morning trading. WeWork stock is down more than 70% this year

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WeWork did not specify the affected buildings

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According to the Refinitiv survey, it reported third-quarter revenue of $817 million, below market expectations of $865 million

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It currently has a market cap of around $1.77 billion

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Its pre-IPO valuation was estimated at around $50 billion

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WeWork is an office-sharing company

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