FinanceUS

Flywire Layoffs

February 2025

Flywire announced a layoff affecting 125 employees in February 2025. The company operates in the Finance sector.

People Affected

125

Announced Date

Feb 26, 2025

About

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.