Wyre announced layoffs for all the employees. Wyre, a crypto payments company founded in 2013, has told employees that it is shutting down amid layoffs, Axios has learned.
In operation since 2013, Wyre agreed to a $1.5 billion sale to online checkout company Bolt in April last year. The deal was abandoned in September during the tech stock bonfire, which saw Bolt lay off a third of its staff. Two former personnel of Wyre confirmed the looming shutdown in a conversation with Axios. One of them said that Wyre CEO Ioannis Giannaros emailed over the holiday session about a planned liquidation and dissolution of operations of in January 2023.
Another employee went public on his thoughts about the fate of the company on LinkedIn: Well, I thought I could get back on track. But it seems life has more challenges for me to complete. In my opinion, #Wyre won’t continue as a profitable business. Once again, I’m #openforwork. Please let me know if you have any company that needs a Technical Engineer, a Manager of Customer Support, or a Customer Support Team Lead. I appreciate everyone that’s helped me along the way and will continue to do so.
