🏧Worldline LAYOFFS! 1,400 Employees SHOWN THE DOOR! ✊🏻🥺What’s Next
Worldline en-global | Terminals
Worldline, a prominent French payments company, has announced plans to slash 8% of its global workforce, aiming to save approximately $215 million in a bid to fortify its financial position for future growth. With operations spanning 40 countries and a workforce of 18,000 employees, the proposed layoffs are expected to impact around 1,400 workers. The decision follows financial challenges encountered by Worldline in January 2024, which saw the company grappling with reduced sales expectations amid challenging economic conditions in Europe, resulting in a significant drop in its stock value and market capitalization.
Specializing in payment and transactional services, Worldline’s offerings encompass a wide array of solutions including merchant services, financial services, and mobility and e-transactional services. Amidst speculation of potential private equity interest in acquiring the company, Worldline has engaged in strategic discussions with unions regarding the impending job cuts, while also exploring options such as securing a big investor to bolster its stock value and attracting investment from French banks and pension funds.
Recently, French bank Credit Agricole acquired a seven percent stake in Worldline, signaling efforts to rebuild investor confidence and navigate through the challenging financial landscape.
