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IWG’s Q1 earnings plunge as Regus owner revises $5.3m Californian class action settlement

IWG, the owner Regus and Spaces, reported a 71% slump in earnings in the first quarter, as the workplace operator set aside cash for a potential settlement in respect of a class action law suit alleging a breach of labour regulations in California.
By James Wallace
May 2, 2018 | 2:08 P.M.

In the first quarter, IWG’s cash generation plunged by £23.7m to £9.5m year on year which was also driven by this this year’s awkward timing of Easter, according to the flexible workspace owner and operator.

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