RALEIGH – Despite WeWork’s money woes after SoftBank’s recent $1.5 billion bailout, the firm’s local chapter is soldiering on, quite literally.

This week, the co-working company launched its inaugural Raleigh-Durham chapter of Veterans in Residence in partnership with Bunker Labs, a national network of veteran entrepreneurs.

The six-month startup incubator is a leadership program that provides veterans and military family member entrepreneurs the community, business support, and workspace to help launch and grow their businesses.

Across the Southeast, it now exclusively operates in Raleigh-Durham, Atlanta and Nashville.

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This Thursday, Nov. 7, WeWork will be hosting a launch party at WeWork One Glenwood in Raleigh from 5:30-7:30 p.m.

“WeWork is committed to supporting our nation’s service members and their families with dynamic workspace, a global community, and economic opportunities,” said Bobby Condon, WeWork Southeast general manager.

“We look forward to seeing the growth and success of this new chapter and its inaugural tribe of Veterans in Residence.”

The news comes at a rocky time for the company, which came under new ownership last week.

SoftBank Group wired over $1.5 billion in funding to keep the embattled co-working company afloat after its failed IPO in August. It’s all part of a bailout package that also includes $5 billion in new debt financing.

With this infusion, SoftBank now has a majority stake with 80% ownership of the company and is already making sweeping changes, replacing co-founder Adam Neumann as chairman and adding five board seats.

However, there are also reports of massive layoffs in store – with some outlets projecting as many as 4,000 jobs cuts.

WeWork has a large presence in the Triangle area and an operation in Charlotte, offering shared working spaces and related services.