Upstart Fires 7% of Staff Due to Declining Loan Demand – Most Recent Tweet from TechCrunch
- 140 loan application processors at Upstart, 7% of its workers, were laid off.
On Tuesday, the cloud-based AI lending platform informed its laid-off staff.
- According to Upstart, the layoffs affected 2,000 employees.
- Given the uncertain environment, we’re making this difficult decision for the company’s long-term health. Mike Nelson, Upstart spokeswoman, said, “We do not foresee any additional layoffs and continue to hire for strategic jobs.”