Upstart Holdings (UPST) to lay off 20% of workforce due to current macro headwinds
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Upstart Holdings (UPST) plans reduction of current workforce by approximately 20%, or approximately 365 employees
January 31, 2023 9:22 AM ESTUpstart Holdings (NASDAQ: UPST) disclosed:
On January 31, 2023, in response to the challenging macro environment where many lenders and credit investors have significantly reduced or paused loan originations, Upstart Holdings, Inc. (Upstart) implemented a plan of reorganization (the January 2023 Plan). The January 2023 Plan is designed to reduce operating costs, streamline operations and return Upstart to profitability. The January 2023 Plan involves a reduction of Upstarts... More
