Wex Layoffs
Industry Finance · Location Portland · United States · Subscribe (RSS)
Wex has 1 publicly reported layoff round on record (most recent June 18, 2024). A total of about 375 employees were affected across these rounds.
Layoff history
Wex, the Portland-based financial technology company, announced on June 18, 2024 that it would eliminate 375 positions worldwide, about 5% of its 7,500-person workforce. The cuts landed primarily in the technology organization, part of an effort to advance what the company called its "technology transformation" and keep pace with a rapidly shifting tech environment. Fewer than 45 of the affected roles were based in Maine, where Wex is headquartered. A spokesperson framed the reductions as necessary to keep the company competitive and keep customers at the center of its operations. No severance terms were disclosed. The announcement marked Wex's fourth layoff event in four years, following smaller rounds in 2020, 2022, and April 2024.
Reason: Technology transformation and organizational restructuring
Source: pressherald.com
Data for Wex is compiled from public WARN Act filings and reporting linked above. See our methodology.