Green Dot to exit China operations, cut 240 jobs by year-end

Green Dot Corporation (NYSE: GDOT) announced it will exit its operational activities in China by the end of 2025. The plan will affect approximately 240 employees, representing about 22% of the company's global workforce.

The financial services company said the exit aims to reduce complexity and promote long-term structural improvements for its business. Green Dot also plans to close certain facilities in connection with the exit plan.

The company expects the exit to result in an estimated annual reduction in spending of $6 million to $7 million, primarily through lower operating expenses and reductions in capitalized internal-use software costs.

Green Dot estimates it will incur total costs of approximately $22 million to $24 million in connection with the exit plan. About $18 million is expected for severance and termination benefits, $3 million to $5 million for contract termination and other associated costs, and approximately $1 million related to accelerated depreciation and impairment charges on certain fixed assets in China.

The company expects costs that will result in future cash expenditures to be approximately $20 million to $22 million. All actions related to the exit plan are expected to be completed in 2025.

The information is based on a company press release statement made on September 2, 2025.

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