Upwork raises planned workforce reduction to about 37% from 24%

• Upwork expanded its restructuring plan on November 10, 2026, bringing expected total workforce reductions to approximately 37%, including separate subsidiary cuts.
• The revised workforce reduction includes the approximately 24% cut announced May 7, 2026.
• Total estimated pretax restructuring charges rose to $27 million-$37 million from $16 million-$23 million, primarily for severance and termination costs.
• Substantial completion is now expected in the first quarter of 2027, versus the fourth quarter of 2026 previously.
• Charges recognized through September 30, 2026, totaled $18.1 million; most remaining charges are expected to be recognized in the fourth quarter.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Upwork Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001627475-26-000058), on November 12, 2026, and is solely responsible for the information contained therein.