Silicon Valley fintech with Columbus HQ2 cuts more jobs
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COLUMBUS, Ohio (COLUMBUS BUSINESS FIRST) — Upstart, a San Francisco-area consumer lending platform, has its second headquarters at 711 N. High St. in Columbus.
Digital consumer lending platform Upstart Holdings Inc. is cutting another 20% of its workforce, about 365 positions.
A spokesman for the San Mateo, California-based company said 150 of the affected positions are in Ohio. Upstart calls Columbus its HQ2, but has been shedding jobs and office space in recent months.
The latest reorganization is a “response to the challenging macro environment where many lenders and credit investors have significantly reduced or paused loan originations,” Upstart (Nasdaq: UPST) announced in a filing Tuesday with the U.S. Securities and Exchange Commission.
Upstart also suspended development of a product for small business loans until the economy improves, the filing said.
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