WEX to lose about 25 positions in IT restructuring
WEX Inc. (NYSE: WEX) plans to eliminate a total of about 25 jobs next spring in a restructuring of its information technology department.
As part of an effort to focus its IT department on technology development and design, 80 jobs at its South Portland location will be eliminated, the corporate payments company said Wednesday in a press release.
Along with the jobs that will be cut, the company will also be adding 25 different IT positions, and its IT partner, Computer Sciences Corp. of Falls Church, Va., will be bringing 33 new jobs at WEX’s South Portland headquarters as part of the restructuring.
WEX spokeswoman Trish O'Donnell said the employees in the roughly 80 positions that will be eliminated next year will be able to apply for the new WEX and CSC positions. How the new jobs might differ from the positions being eliminated hasn’t yet been finalised, O’Donnell said.
“This was a difficult decision as WEX has many talented IT professionals and some are going to be impacted by these actions,” the company said in a statement. “However, the company believes it is necessary to reshape the IT department to better enable WEX’s growth and align with its global footprint.”
The company will provide employees affected by the restructuring with a comprehensive suite of transition support services, including a minimum of five months’ notice, a severance package and outplacement assistance.
WEX has expanded through a couple of major acquisitions over the last month.
The company reached an agreement in October to acquire a rival fleet card provider for about $1.1 billion in cash plus stock. That was two less than two weeks after WEX announced it had reached an agreement to acquire a health care billing software firm for $80 million.
WEX and its subsidiaries employ about 2,000 people globally, with about 700 based in Maine.
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