U.K. firm Wise to close Florida office, lay off 307 employees

Wise, a U.K.-based remittance firm, plans to close its Tampa, Fla., office and lay off about 307 employees.

All affected employees were notified and will be given at least 60 days as a notice period before they are let go, Wise said in a WARN Notice sent on Feb. 7 to the Florida Department of Commerce.

The layoffs will take place in three phases on April 8, May 2, and Nov. 3.

Wise was recently ordered by the Consumer Financial Protection Bureau to pay nearly $2.5 million to address claims that the company advertised inaccurate fees and failed to properly disclose exchange rates and other costs.