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Illustration: Sarah Grillo/Axios

WeWork is laying off 2,400 employees as a cost-cutting measure, CNBC reports.

"The process began weeks ago in regions around the world and continued this week in the U.S. This workforce reduction affects approximately 2,400 employees globally, who will receive severance, continued benefits, and other forms of assistance to aid in their career transition. These are incredibly talented professionals and we are grateful for the important roles they have played in building WeWork over the last decade."
— A spokesperson told CNBC

The big picture: WeWork reported last Wednesday a $1.25 billion net loss for the third quarter, more than doubling its year-earlier number.

  • Axios' Dan Primack notes the results "represent WeWork's final quarter under the leadership of Adam Neumann, who was ousted after a failed IPO."
  • Dan reported last month that the company "doesn't have enough money to finish out 2019," has been dealing with major losses since IPO and has signaled it would let thousands of employees go.

Go deeper:

Go deeper

Tina Reed, author of Vitals
2 hours ago - Health

New clues emerge on long COVID

Illustration: Maura Losch/Axios

The presence of certain autoantibodies or high amounts of coronavirus RNA in the blood could be indicators a patient has a higher chance of developing long COVID, according to a new study in the journal Cell.

  • Other factors include a person having Type 2 diabetes or the reactivation of the Epstein-Barr virus.

Biden says he'll make Supreme Court pick by end of February

President Biden speaks on the retirement of Supreme Court Justice Stephen Breyer in the Roosevelt Room of the White House. Photo: Yuri Gripas/Abaca/Bloomberg via Getty Images

President Biden on Thursday said he will announce the nominee for Supreme Court Justice Stephen Breyer's replacement by the end of February.

Driving the news: Biden also affirmed that he will nominate a Black woman to replace Breyer, saying "it's long overdue."

Stephen Breyer formally announces retirement from Supreme Court

Photo: Andrew Harnik/AP

Justice Stephen Breyer on Thursday sent a letter to President Biden formally announcing his retirement from the Supreme Court.

State of play: Breyer said his retirement will take effect when the court "rises for the summer recess (typically late June or early July) assuming that by then my successor has been nominated and confirmed."

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