August 26, 2021

(Reuters) – Office-sharing startup WeWork said on Thursday it had won a U.S. federal contract to provide hybrid work solutions to government employees, as a spike in COVID-19 cases prompts employers to reconsider a complete return to offices.

The SoftBank Group Corp-backed company did not disclose details of the contract, which was awarded by the U.S. General Services Administration to WeWork and four other pre-approved contractors.

In a hybrid workplace model, employees have the flexibility to work in different spaces, including corporate offices, coworking spaces, public areas and from home.

Numerous U.S. federal agencies last month mandated masks at federal buildings in COVID-19 hot spots in line with instructions issued by the White House.

WeWork in March agreed to go public through a merger with BowX Acquisition Corp, a special purpose acquisition company, in a deal that valued it at $9 billion.

(Reporting by Sanjana Shivdas in Bengaluru)