Western Union Cuts 650 Jobs as Revenue Falls

The payments company reported a 2% revenue drop in the third quarter while cutting staff and relocating roles from Costa Rica.

Updated on Nov. 5, 2026 in Remote Work

Western Union Cuts 650 Jobs as Revenue Falls

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Western Union reported a 2% year-over-year revenue decline to $1 billion in the third quarter, driven by a slowdown in its North America retail business. The company reduced headcount by more than 650 employees during the quarter.

Why it matters

Changes in immigration policy weighed on Americas retail money transfers, and management says its legacy business model has been disrupted faster than its cost structure could adjust. The cuts reflect an effort to bring operating expenses in line with the pace of change in the business.

Western Union's third-quarter revenue reached $1 billion, down 2% from a year earlier, while more than 650 employees were cut. The company has not quantified expected savings from the roughly 800 roles relocated out of Costa Rica.

The players

Western Union

Western Union is a global money transfer and payments company that has long been a leader in cross-border remittances.

Intermex

International Money Express, known as Intermex, is a U.S.-based money transfer company that Western Union agreed to acquire.

The details

Western Union deployed AI across several functions to reduce operating expenses and repositioned a regional operating center along with about 800 roles from Costa Rica to other countries. The company also launched its USDPT stablecoin in May and its Stablecard product in August.

May 2026: Western Union launched its USDPT payment stablecoin.
June 2026: Crypto exchange Bybit integrated USDPT, creating ramps in select Latin American markets.
August 2026: Western Union launched Stablecard and received New York approval for the Intermex acquisition.
November 10, 2026: Outside date in the Intermex merger agreement, after which either party may terminate.

Roadmap

Western Union's stablecoin and card launches place it in the broader movement of traditional remittance firms moving toward digital and blockchain-based transfers. The cost cuts and relocations show the strain of reshaping a legacy network while that shift is underway.

Customers sending money through Western Union's North America retail network may see changes as the company restructures operations and expands digital options like Stablecard. The Intermex deal, if completed, would combine two major money transfer providers.

The takeaway

Companies in legacy payments are being forced to cut costs and build digital products at the same time. Watch whether these moves stabilize revenue in the coming quarters.

What happens next

Western Union's pending acquisition of Intermex has an outside date of November 10, 2026, after which either party may terminate the merger agreement.