Upwork expands restructuring to cut about 37% of workforce, up from 24%

Upwork expanded its restructuring plan to cut about 37% of its total workforce, up from the roughly 24% previously disclosed. Execution is expected to be substantially complete in Q1 2027. The expanded plan includes additional job cuts through a subsidiary. Total pre-tax charges are now estimated at $27m-$37m, up from $16m-$23m. The company recognized $18.1m in charges as of September 30, 2026, with most to be incurred in the fourth quarter. The board approved the expansion on November 10, 2026.