Upwork cuts jobs, trims revenue outlook amid AI impact
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Upwork has cut its full-year revenue forecast to $775 million due to AI-driven changes in client behavior and macroeconomic challenges. The company plans to reduce its workforce by nearly 25%, targeting $70 million in savings and aiming for a 35% adjusted EBITDA margin. Additionally, Upwork is introducing new AI-powered tools to attract higher-value work as demand for low-end contracts declines.
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