WeWork’s parent organization The We Company just announced that it’s withdrawing the S-1 filing for its IPO.

The co-working company has had a turbulent month since the filing went public, around both the general state of its finances and the behavior of co-founder/CEO Adam Neumann.

As a result, Neumann stepped down down as CEO last week (he will continue to serve as non-executive chairman). In addition, the company is looking to focus on its core co-working business, which means it’s planning major layoffs and even reportedly looking to sell some of the companies it acquired over the last couple of years — namely Managed by Q, Conductor and Meetup.

So it was widely expected that The We Company would delay its IPO. Today, it made things official with the release of a statement from new co-CEOs Artie Minson and Sebastian Gunningham: