English finance firm closing Tampa office, laying off 307

Wise U.S., an English finance technology company, is closing its Tampa office and cutting up to 307 jobs.

The company notified state and local officials of its intentions in a letter saying that the cuts will begin April 8 and, according to a company spokesperson, continue through November when the office closes.

The letter, written to meet federal job cut requirements, was dated Feb. 7 and posted on Florida’s Worker Adjustment Retraining and Notification database Monday.

The Wise spokesperson says in an email that as the company grows due in part to its "ability to work on problems cross-functionally across our global teams... we are focused on further accelerating this close collaboration across our teams." 

"For this reason, we have decided to center our Americas teams in three locations: Austin, our primary full stack location, New York and São Paolo."

The majorit of the roles in the Tampa office will be reassigned to other offices.

Wise’s local office is at 4925 Independence Parkway in Tampa’s Rocky Point neighborhood. According to Wise’s website it served as operational hub in the U.S.

Wise describes itself on its website as a “global technology company, building the best way to move and manage the world's money.” The company says its clients — individuals, businesses, large companies and banks — can hold 40 currencies and move money between countries and spend it abroad.

The company was launched in 2011 and expanded into the U.S. in 2015.

In addition to Tampa, it has offices in New York and Austin, Texas. 

Wise says on its website that in fiscal year 2024 it worked with 12.8 million people and businesses to process approximately £118.5 billion (about $147.6 billion) in cross-border transactions.

This story has been updated to include a statement from Wise.