Upstart Holdings Inc. said it cut 140 hourly employees on Tuesday, citing a "challenging economy' and a decline in the volume of loans it processes.
The news came in a one-sentence statement in a filing with the Securities and Exchange Commission. The company had 1,497 employees at the end of last year.
The San Carlos company uses artificial intelligence-powered lending analytics to partner with banks and credit unions to offer consumers financial products like personal loans and debt consolidation.…
