The shared workspace giant WeWork has been looking for a financial lifeline after its plans for an flotation had to be abandoned. But it now faces a new noxious problem that is proving to be costly.
It had to close some 2,300 phone booths at more than 220 sites in the US and Canada after elevated levels of formaldehyde were detected.
In 1987, the US Environmental Protection Agency classified the substance as a probable human carcinogen under conditions of unusually high or prolonged exposure. Phone booths are scattered around WeWork locations and provide a private space for tenants to make phone calls.
“The safety and well-being of our members is our top priority, and we are working to remedy this situation as quickly as possible,” a WeWork spokesperson said in a statement.