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Illustration: Sarah Grillo/Axios

WeWork plans to spin off or sell 2 more of its recent acquisitions — SpaceIQ and Teem — in addition to others that have been reported, according to a source familiar with the matter.

Why it matters: After replacing its CEO and shelving its IPO, the company is looking to boost its balance sheet and focus on its core co-working business.

As was reported by The Information last week, the company is looking to spin off Managed by Q, Meetup and Conductor, and it has already received interest, the source said.

As for SpaceIQ and Teem, both are tech companies that help businesses manage their space.

  • Teem, which WeWork acquired a year ago, has a variety of software for businesses, including managing conference-room bookings and handling visitors arriving at the lobby.
  • SpaceIQ, acquired in July, allows a company's real estate department to handle tasks such as managing floor plans and desk assignments.

The big picture: Divesting recent purchases isn't the only change being made by new management. The company has also fired a number of executives with close ties to former CEO Adam Neumann, and layoffs are reportedly in the offing.

Go deeper: We(re)Work: One week, many changes

Go deeper

Updated 4 hours ago - World

Over 3,000 detained in protests across Russia demanding Navalny's release

Russian police officers beat protestesters at a rally against of jailing of oppositon leader Alexei Navalny in Moscow on Saturday. Photo: Mikhail Svetlov/Getty Images

Police in Russia on Saturday arrested more than 3,300 people as protesters nationwide demanded that opposition leader Alexey Navalny be released from jail.

Details: Demonstrations began in the eastern regions of Russia and spread west to more than 60 cities.

Updated 6 hours ago - Politics & Policy

Arizona Republicans censure Cindy McCain and GOP governor

Combination images of Cindy McCain and Gov. Doug Ducey. Photo: FilmMagic/FilmMagic for U.S.VETS/Michael Brochstein/SOPA Images/LightRocket via Getty Images

Arizona Republican Party members voted on Saturday to censure prominent GOP figures Cindy McCain, Gov. Doug Ducey and former Sen. Jeff Flake (R-Ariz.), who've all faced clashes with former President Trump.

Why it matters: Although the resolution is symbolic, this move plus the re-election of the Trump-endorsed Kelli Ward as state GOP chair shows the strong hold the former president has on the party in Arizona, despite President Biden winning the state in the 2020 election.

Updated 10 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Health: Most vulnerable Americans aren't getting enough vaccine information — Fauci says Trump administration's lack of facts on COVID "very likely" cost lives.
  2. Education: Schools face an uphill battle to reopen during the pandemic.
  3. Vaccine: Florida requiring proof of residency to get vaccine — CDC extends interval between vaccine doses for exceptional cases.
  4. World: Hong Kong puts tens of thousands on lockdown as cases surge — Pfizer to supply 40 million vaccine doses to lower-income countries — Brazil begins distributing AstraZeneca vaccine.
  5. Sports: 2021 Tokyo Olympics hang in the balance.
  6. 🎧 Podcast: Carbon Health's CEO on unsticking the vaccine bottleneck.