PORTLAND, Maine — Portland-based payment processing company WEX has announced it will be laying off approximately 375 employees worldwide, including less than 45 employees in Maine.
The company says the majority of changes will impact its Technology organization. It was unclear what positions are impacted in that sector.
In a statement shared with NEWS CENTER Maine, a company spokesperson said the decision comes in an effort to streamline operations among other goals.
"As the technology environment continues to change rapidly, it is imperative that WEX continues to evolve its business to support innovation and maintain its position as an industry leader. Accordingly, we have made changes across the company to advance our technology transformation, streamline the organizational structures, and ensure that our customers remain at the center of everything we do."
The most recent layoffs including Maine employees follow similar moves in recent years. In 2020, shortly after the beginning of the COVID-19 pandemic, 45 positions were eliminated and 90 employees were furloughed. In 2022, the company laid off 30 employees for its "next phase of growth."