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Barchart
Aanchal Sugandh

Upwork Stock Plunges Amid 24% Layoffs: CEO Says ‘Two Pizza Teams Are Dead’

Digital freelance hiring marketplace, Upwork (UPWK), just handed pink slips to roughly 24% of its total workforce, with affected employees set to receive notifications as early as this week. The announcement marks one of the more dramatic restructurings the gig economy space has ever witnessed, but one specific line buried inside the CEO's letter caught the tech world's attention.

CEO Hayden Brown declared publicly that "two pizza teams" are dead. Jeff Bezos originally coined the phrase at Amazon.com (AMZN) to describe a team small enough to share two pizzas, typically six to ten people, and for decades, the idea served as the golden rule of lean, agile organizations everywhere. 

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