Flywire

Boston-based payments company Flywire is laying off 125 employees, representing 10% of its 1,250-person workforce, as a cost-saving measure in response to a significant slowdown in international student visa approvals. The company, which specializes in cross-border tuition payments, saw its stock plummet after reporting weaker-than-expected revenue growth for late 2024 and a subdued 2025 outlook. This downturn is primarily driven by restrictive visa policies in key markets like Canada and Australia, which account for about 15% of Flywire's revenue, with similar pressures anticipated from potential U.S. policy changes under a Trump administration. The layoffs, announced in early 2025, reflect broader challenges in the fintech and education technology sectors as the company adjusts to external market pressures beyond its control.

Flywire laid off 60 employees representing approximately 12% of its workforce on 2020-05-07.