FinanceUS

MX Layoffs

October 2022

MX announced a layoff affecting 200 employees in October 2022. The company operates in the Finance sector.

People Affected

200

Announced Date

Oct 11, 2022

About

Financial technology company MX, a Utah-based "unicorn" valued at $1.9 billion last year, has laid off approximately 200 employees. The layoffs, confirmed by a former manager in October 2022, are part of a reduction and reorganization effort by the company to "better deliver on our mission." While the exact percentage of its workforce affected is not specified, the cuts reflect a broader trend of staff reductions among tech companies, including in Utah. MX operates in the competitive fintech industry from its headquarters in Lehi.