The Portland-based company had agreed to purchase two travel payment firms for $1.7 billion, but backed out because of the coronavirus pandemic.
WEX
Posted inBusiness, Local & State, News
Travel restrictions worry Wex after solid first quarter
The Portland-based payment processing technology firm says business declined in April because of pandemic-related restrictions on travel.
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Posted inBusiness, Local & State, News, Uncategorized
Wex announces layoffs, furloughs affecting 5% of its workforce
Business has slowed abruptly for the Portland-based payment-processing technology firm, whose CEO bought and sold thousands of company shares 2 days before the price started falling.
Posted inBusiness, Local & State, News
Maine employers send workers home, make drastic changes
The coronavirus is forcing large Portland-area businesses to adopt new rules to keep workers healthy and business humming.
Posted inBusiness, Local & State, News
Wex ‘strongly encouraging’ its employees worldwide to work from home
The Portland-based payment technology firm says it hopes to have employees fully transitioned to remote work by March 20.
Posted inBusiness, Local & State, News
Economic impact of coronavirus cuts into Wex revenue projections
The Portland-based company expects earnings to be down at least 2% for the first three months of this year.
Posted inForecaster Opinion
Letter: Scarborough has already paid for WEX
We’ve already paid for the WEX deal, let’s not pay again. Should the town of Scarborough give WEX a $2.25 million tax refund to move from South Portland to The Downs, the best location in the state? We’ve already committed up to $81 million to The Downs to do this. The town’s theory was to […]
Posted inBusiness, Local & State
Wex gets $2.25 million tax break from Scarborough for expansion plan
A majority of the Town Council agrees that Wex will broaden the tax base and be a great addition to the community.
Posted inBusiness, Local & State, News
Fast-growing Wex reports record revenue of $1.72 billion for 2019
The Portland-based payment processing company reported revenue growth of 15% from a year earlier.
Posted inForecaster Opinion
Letter: WEX is a win for Scarborough
The WEX move to Scarborough is a great step forward for the town. Hats off to Downs developer Crossroads Holdings, Town Manager Tom Hall, Council Chairman Paul Johnson and others for successfully making the pitch to WEX to establish a 1,200- worker operations center in the Downs area. This will serve as a catalyst for […]