The Boston-based start-up has laid off 60 of its employees and is putting a further 16 workers on part-time contracts which run until the end of this year.
Flywire, which was founded in 2009 and has a total 540 employees across 12 offices, said that “critical roles” had not been shifted to part-time.
A Business Insider source said staff were told about the changes last week.
The fintech landed unicorn status back in February when it obtained $120 million in funding led by Goldman Sachs. Currently, Flywire digitises payments in the travel, health and education sectors.
