CEO of WeWork to step down amid tales of financial impropriety and wild partying

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Inside WeWork offices. Photo credit: kennejima/CC 2.0, via Flickr

WeWork founder Adam Neumann is expected to step down as CEO of the company. He’ll still be chairman of the co-working startup. Neumann’s ouster comes after a cascade of bad press for WeWork. The company postponed its IPO. It’s facing massive deficits. Its expected value was slashed to one-third of the original sticker price.