Western Union and MoneyGram report losses

The long-established money transfer giants Western Union and MoneyGram both reported revenue losses in the second quarter, reports Ruby Hinchliffe.

After Western Union gave in to pressures from a changing market and new digital-based challengers, Denver-based Western Union is reducing its workforce by 10% in the coming months to generate $ 100 million annually through 2021 to drive costs down.

While Western Union reported a 5% year-over-year revenue decline to $ 1.3 billion, MoneyGram has …

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