WeWork, the McDonald’s of co-working spaces has seen some immense value loss recently. The company has already run out of money, and is now desperately seeking a bailout from the likes of JP Morgan.

Earlier this year we wrote a story going over how WeWork could be a very easy shorting opportunity. With an impending recession, a brick and mortar building with insane rent seems like an odd business model, especially when entrepreneurs will be cutting costs left, right and center.

Even in the current bull market, the company reported a net loss of more than $900 million for the first six months of 2019 on revenues of $1.54 billion.

Now, with the delay of the IPO, and an absence of a liquidity event, employees and investors are growing nervous. WeWork is also doing a mass purge of firings to cut costs, and those being terminated also have questions about the state of their severance packages.

Many employees were paid partially in shares. Others received WeWork shares when the company acquired their startups. In many cases the shares they received carried a much higher value than than they do now.

The company reportedly could run out of cash by next month unless it gets new funding, and was planning on cutting jobs to save money.

According to Business Insider, SoftBank valued WeWork at $47 billion in a funding round in January. The bailouts proposed by it and JPMorgan would place the company’s value at $8 billion or less. an 83% loss in value, already.