Skip to content
Subscriber Only

Wirecard Cash Crunch Hits Staff as Insolvency Holds Up Pay

  • Paychecks due on Friday haven’t arrived, people familiar say
  • Payment company disclosed that 1.9 billion euros is missing
The Wirecard payment app on a mobile device.
The Wirecard payment app on a mobile device.Photographer: Alex Kraus/Bloomberg
Updated on

Wirecard AG employees in Germany haven’t yet received their June paychecks after a financial scandal led to the company’s insolvency, people familiar with the matter said.

The salaries were due on Friday, the people said, asking not to be identified because they aren’t authorized to speak to the media. Wirecard has about 5,800 employees, according to the company’s website. A representative for the company declined to comment.