{"schema_version":"secwatch.filing_event.v1","accession":"0001647639-23-000006","form_type":"8-K","ticker":"UPST","cik":"0001647639","company_name":"Upstart Holdings, Inc.","filed_at":"2023-01-31T23:59:59+00:00","discovered_at":"2026-05-14T18:03:45.993440+00:00","generated_at":"2026-06-20T05:26:59.778169+00:00","sec_items":["2.05"],"event_type":"other_material","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Upstart announces 20% workforce reduction, expects $57M cash savings","bullets":["Reduction of ~365 employees (20% of workforce); suspension of small business loan product until macro improves.","Estimated $15M in severance and benefit charges; $3M non-cash reversal of stock-based compensation.","Expects ~$57M cash savings in operating expenses over 12 months and $42M non-cash SBC savings through 2025.","Charges and cash expenditures mostly incurred in Q1 2023; plan designed to reduce costs and return to profitability."],"urls":{"canonical":"https://secwatch.observer/filing/0001647639-23-000006","json":"https://secwatch.observer/filing/0001647639-23-000006.json","markdown":"https://secwatch.observer/filing/0001647639-23-000006.md","text":"https://secwatch.observer/filing/0001647639-23-000006.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1647639/000164763923000006/0001647639-23-000006-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1647639/000164763923000006/upst-20230131.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-20T05:26:59.778169+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"859a42e6789cce8b3b396766f0b4ef545f3876ad","claim":"Upstart Holdings, Inc. announced a restructuring with charges of approximately $15 million in total charges (approximately 20%, or approximately 365 employees).","evidence_excerpt":"The January 2023 Plan involves a reduction of Upstart’s current workforce by approximately 20%, or approximately 365 employees. Upstart estimates that it will incur approximately $15 million in total charges in connection with the January 2023 Plan.","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1647639/000164763923000006/0001647639-23-000006-index.htm","confidence":0.9,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"restructuring"},{"label":"Charge","value":"approximately $15 million in total charges"},{"label":"Headcount","value":"approximately 20%, or approximately 365 employees"}],"fact_type":"restructuring_charge"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}