UPDATE 1-WeWork data shows growth still doubling

WeWork owner The We Company disclosed data on Friday that showed expansion of its office-sharing business was almost doubling in size from a large pipeline of leases even as the money-losing company plans to slash costs and reduce its headcount. WeWork divulged a presentation it gave prospective creditors in October about two weeks before SoftBank agreed to a $9.5 billion bailout to keep the company afloat before cash on hand was expected to run out some time in November. The data showed that as of the third quarter WeWork planned to add 450,000 desks through leased locations that have not yet opened, which would represent almost a doubling in size from the 520,000 desks already up and running.