Report: WeWork is expected to lay off at least 2,000 people

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Here are the latest business headlines from Cheddar.

WeWork is expected to lay off at least 2,000 people, or 13% of the company's total staff, as soon as this week, according to The Guardian. Employees told The Guardian that little to no work is getting done, and new projects have been put on hold at the company. WeWork is under pressure to cut costs following a failed IPO attempt.

Walmart is launching an Amazon Key rival that delivers groceries straight to customers' refrigerators. Associates use smart entry technology and wearable cameras to get inside customers' homes. Shoppers can even watch the delivery remotely. The service costs about $50 up front for a smart device plus a $20 monthly fee.

The New York Times reports that a drug that's critical to treating childhood cancers is in short supply after manufacturing issues at the sole manufacturer, Pfizer. Teva pharmaceutical ceased producing the drug in July, citing a business decision. Pfizer said it would expedite additional shipments in an effort to make up for Teva's withdrawal.

 

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