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October 8, 2008

Wright Express lays off 22

By Whit Richardson

Wright Express in South Portland today laid off 22 people and may reassign 40 others in an attempt to reorganize the company during the slowing economy.

Wright Express, which provides payment processing and information management services to government and commercial vehicle fleets, employs 730 people across the country, 587 of whom are based in South Portland, Jessica Roy, Wright Express' communications manager, told Mainebiz this afternoon. Of the 22 laid off, 12 were based in South Portland. Additionally, because of the reorganization, Roy said 40 employees were offered or are being considered for other positions within the company. Those laid off have been offered severance packages.

Wright Express is scheduled to release its third-quarter financial results on Oct. 29. Roy wouldn't comment on the company's financial health, but says the company has stated publicly that it is not immune to the affects of an economic downturn. "Our customers are businesses, and those businesses are driving less miles and driving fewer vehicles," Roy says.

Roy says the company has also acquired several companies over the past few years and saw an opportunity to reorganize to become more efficient.

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