bengaluru wework the shared office space provider expects to turn profitable by next year as it turns itself into a leaner organisation sells its noncore businesses erases costs out of the system and increases memberships its ceo sandeep mathrani saidthe target was to be achieved this year but the pandemic which drastically reduced occupancies has made that impossible the company said its occupancy levels of 66 between january and march was turning it into a cash flow positive company wework is putting a greater focus on enterprise clients many of whom are vacating traditional office spaces as a large chunk of its employees continue to work from home it has also taken 1 billion out of the system by making the organisation leaner and another 500 million by shrinking the real estate portfoliothe strategy is profitable growth and it is now a game of selling memberships mathrani said in a select media interaction on wednesday we went through a burst of growth sometimes speculative growth but as demand starts to come back and with an active pipeline which if converted should make us profitable by next yearthe strategy also means that the company will go slow on expansion and signing new leases we want to get back to precovid levels of occupancy without expanding much said karan virwani ceo of wework india the india entity has also restructured its real estate portfolio and reduced cost by about rs 250 crore in the last few months wework has a management agreement with its india affiliate which is run by jitu virwanis embassy group under which the building owner funds all capital expenditures to build out the space as per specifications and maintains full responsibility for the space while the parent acts as the manager and receives an agreedupon management fee