Shared office provider WeWork has cancelled plans to open a new complex on Amsterdam’s Herengracht and delayed the opening of another project on the Stadhouderskade until 2021, the Financieele Dagblad reported at the weekend.

The company told the FD that it has no plans to leave the Netherlands but that its expansion plans for the Dutch capital have been overhauled. WeWork has three other locations in Amsterdam.

WeWork, founded in 2010, withdrew its plans for an IPO in September last year, amid mounting concern from investors about the way it was being run, its valuation and future prospects. Co-founder Adam Neumann was ousted and the company began a programme to turn its fortunes around.

Asked by the FD if the Amsterdam changes are part of this, the company referred to a statement from last November about a general switch in strategy.

Rokin

Meanwhile, Dutch payment processing giant Adyen plans to move into the former Hudson’s Bay department store buildings on Amsterdam’s Rokin.

The 17,000 square metre complex will have space for 1,000 workers. The company currently has a workforce of 800 in Amsterdam.

Part of the ground floor will remain shops, and the company will also retain its current officies in the eastern docks near Amsterdam’s main railway station, CFO Ingo Uytdehaage told the Parool.

‘Our challenge is our growth and we are taking on lots of people during this coronavirus crisis,’ Uytdehaage said. ‘And we want a place where we will be visible. We started as a small Amsterdam company and we have grown enormously in recent years. And that involves letting people see who you are.’