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Upwork ( (UPWK) ) has shared an announcement.
Upwork has announced a major restructuring plan aimed at propelling its profitability, optimizing efficiency, and enhancing innovation. This strategic move involves a 21% reduction in workforce, projected to save $60 million annually. The company has reported a preliminary Q3 2024 revenue of $194 million, surpassing expectations, and continues to focus on margin expansion and strategic growth. Investors can look forward to further financial insights during the upcoming earnings call on November 6, 2024.
Learn more about UPWK stock on TipRanks’ Stock Analysis page.