Progrexion, a Salt Lake City-based credit report repair company owned by private equity firm H.I.G. Capital, laid off over 100 employees in May 2023. The cuts affected multiple departments, though the exact percentage of the workforce impacted remains unclear. Operating in the financial services and technology sector, Progrexion, which owns brands like Credit.com and CreditRepair.com, conducted these layoffs amidst a broader trend of workforce reductions across U.S. tech and financial companies. This move reflects the challenging market environment many firms faced in early 2023, following a period of rapid hiring and growth in previous years.
