UPWK +2.48 to 12.52, nice call ....
briefing -
UPWK (12.66 +25.97%): The Co. announces a more streamlined organizational structure and operational changes to continue the Company's profitable trajectory, increase efficiency, and accelerate innovation for its customers. Additionally, the Company announces organizational changes including 21% workforce reduction; provides preliminary Q3 results above financial guidance. Lastly, the Company discloses estimate of approximately $17-22 mln in pre-tax charges to GAAP financial results consisting primarily of severance and other one-time termination benefits.