The much-loved, pancake-design lens EF 40mm f/2.8 STM will no longer be made, according to a rumor from Canon Rumors. The lens has been known for exceptional image quality for its price, and particularly for its size, often compared to a lens cap. The next day we heard via Canon Rumors that the EF 70-200 f/4L IS II and the EF 85mm f/1.2L II have also been nixed. The pace is fast enough that the site is publishing a special page to track the discontinuances.
The bigger implication from the decision to discontinue that lens is that the EF range appears to be working through existing inventory for low-margin lenses and is unlikely to be pushing out many more EF mount designs. Instead, it appears Canon will be continuing to put all its new lens efforts into the mirrorless RF mount.
The last EF lens to launch was a supertelephoto lens, the 600mm f/4 III, designed around the 1DX Mark III launch.