Oct 12, 2019

WeWork will close its school WeGrow in 2020

Illustration: Sarah Grillo/Axios

WeGrow, an educational branch of WeWork, will be closing its doors at the end of 2019-2020 academic year so its parent company can focus on the office-sharing business, reports Reuters.

Why it matters: The company is cutting expenses by laying off employees and closing or selling business units deemed nonessential to its operations in an effort to avoid running out of money, per Reuters.

The big picture: WeWork cancelled its IPO after struggling to get it off the ground, and its is now seeking new financing. Founder Adam Neumann stepped down last month as CEO following growing investor concern over the company's value and business model.

Context: The private school for kids as young as 2 was founded by Neumann's wife Rebekah, and charged between $22,000 to $42,000 for annual tuition based on age.

Go deeper... Latest WeWork drama: SoftBank vs. CEO Adam Neumann

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Axios
Updated 14 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 7:30 p.m. ET: 18,982,658 — Total deaths: 712,266— Total recoveries — 11,477,642 — Map.
  2. U.S.: Total confirmed cases as of 7:30 p.m. ET: 4,873,747 — Total deaths: 159,931 — Total recoveries: 1,598,624 — Total tests: 59,652,675 — Map.
  3. Politics: Pelosi rips GOP over stimulus negotiations: "Perhaps you mistook them for somebody who gives a damn" — Ohio Gov. Mike DeWine tests positive.
  4. Public health: Majority of Americans say states reopened too quickly — Fauci says task force will examine aerosolized spread.
  5. Business: The health care sector imploded in Q2 — More farmers are declaring bankruptcy — July's jobs report could be an inflection point for the recovery.
  6. Sports: Where college football's biggest conferences stand on playing.
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Dave Lawler
35 mins ago - World

Nuclear free-for-all: The arms control era may be ending

Illustration: Aïda Amer/Axios

The mushroom clouds over Hiroshima and Nagasaki have remained unreplicated for 75 years in part because the U.S. and Soviet Union — after peering over the ledge into nuclear armageddon — began to negotiate.

Why it matters: The arms control era that began after the Cuban Missile Crisis may now be coming to a close. The next phase could be a nuclear free-for-all.

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Rashaan Ayesh
2 hours ago - Politics & Policy

Pelosi, Schumer demand postmaster general reverse USPS cuts ahead of election

Schumer and Pelosi. Photo: Alex Wong/Getty Images

House Speaker Nancy Pelosi (D-Calif.) and Senate Minority Leader Chuck Schumer sent a letter to Postmaster General Louis DeJoy on Thursday calling for the recent Trump appointee to reverse operational changes to the U.S. Postal Service that "threaten the timely delivery of mail" ahead of the 2020 election.

Why it matters: U.S. mail and election infrastructure are facing a test like no other this November, with a record-breaking number of mail-in ballots expected as Americans attempt to vote in the midst of a pandemic.

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