Payment Processing Associate

Conduent to lay off 113 Newark employees in tolling business sale. Florham Park-based company is selling the division to Quarterhill for $70M The basics: * Conduent will lay off 113 Newark employees Jan. 21, 2027 * Company selling tolling business to Quarterhill for $70M, 7% equity stake * Employees supporting the business received job offers from Quarterhill * Conduent targeting $100M in annual savings through a restructuring effort Conduent plans to lay off 113 employees in Newark as part of the $70 million sale of its tolling business to Canadian transportation technology company Quarterhill Inc. According to Conduent, the downsizing will impact a unit focused on providing technology-led and automated business process services for local, state and federal government agencies. In a statement to NJBZ, a spokesperson said, "Employees supporting the business received employment offers from Quarterhill. Certain roles that do not transfer with the business are being eliminated. "We recognize the impact these changes have on affected employees and are committed to treating them with fairness and respect. Eligible employees will receive separation benefits in accordance with applicable policies and requirements," they said, adding, "We are grateful to these employees for their contributions." Tech offerings. Conduent launched in 2017 as a spin-off from Xerox. It specializes in digital solutions and services for the commercial, government and transportation sectors. Its technology offerings across cloud computing, artificial intelligence, machine learning, automation, and advanced analytics aim to enhance operations and reduce costs of clients. Solutions provided by Conduent range from administering government payments and managing customer service operations to handling human resources functions. The company says it handles approximately $80 billion in government payments and 2 billion customer service interactions annually. As of June, Conduent had about 48,000 employees across two dozen countries. Taking a toll. Earlier this year, the company launched a broader effort to accelerate growth, modernize technology, improve service delivery and streamline support functions. It hopes to generate at least $100 million in annual savings by the first half of 2027. As part of that campaign, Conduent agreed to sell its tolling business to Quarterhill in exchange for $70 million and a 7% equity stake. The deal is expected to close before the end of 2026. With operations in the U.S. and the U.K., Conduent's tolling unit provides electronic toll collection, payment processing, vehicle identification and enforcement technology. According to the company, the business supports more than 14 million transactions per day. The move follows Conduent's sale of its public transit business to technology firm Modaxo for $164 million. That deal closed Oct. 1, according to the company. Together, both divestitures were expected to generate $234 million in gross cash proceeds. Conduent has said it plans to use most of that money to pay down debt and focus on its remaining businesses. Simplifying its portfolio. Conduent President and CEO Harsha Agadi recently shared, "This tolling transaction, alongside the previously announced Public Transit agreement, advances our strategy to simplify our portfolio, sharpen focus on our core businesses, and strengthen our financial foundation. We are continuing our strategic journey to enhance long-term value creation, including simplifying our business, strengthening the balance sheet, and increasing sustainable free cash flow." Other recent NJ workforce reductions. Conduent recently refinanced $447 million in credit facilities, extending the repayment deadline to May 2029. The deal also added $90 million in available credit, giving the company more financial flexibility while it works to restructure its operations and cut costs. For the three-month period ending June 30, Conduent reported $531 million in revenue, down 11.9% from a year earlier. The company posted a net loss of $116 million, compared with a $40 million loss in the same quarter of 2025. Conduent estimated that its 2026 restructuring program would cost $30 million to $50 million, according to its second quarter filing. During the first half of 2026, it has spent $28 million in restructuring-related costs, according to the company. About the reporter A Bergen County native, Kimberly Redmond began her journalism career after graduating from Marymount Manhattan College in New York City, starting as a reporter for one of North Jersey Media Group's weekly newspapers. Over the past 15 years, she's worked at The Star Ledger, covering breaking news, courts, government and features in northwestern New Jersey, as well as at USA Today-owned The Journal News in New York's Hudson Valley region, where she had an education beat. Along the way, she's earned several awards from the New Jersey Press Association and New Jersey Society of Professional Journalists for deadline reporting, crime & police coverage and features. In October 2022, Kimberly joined the team at NJBIZ, taking on the always-interesting beats of New Jersey's retail, cannabis, hospitality, food and legal industries. Questions? Tips? Email Kimberly at [email protected].

Conduent completes $447M refinancing, clearing path to achieve its strategic plan. ROI-NJ Staff(Florham Park) October 23, 2026 Conduent Inc., a global technology-driven business solutions and services company based in Florham Park, announced Oct. 23 the closing of a $447 million refinancing transaction. The deal extends the company's $357 million revolving credit facility through May 2029 and adds $90 million in additional commitments from its existing bank lenders, including a $15 million letter of credit facility, reflecting confidence in the company's strategy. Together with the company's recent and announced divestitures, including the use of proceeds to repay debt, these actions advance Conduent's strategy to deleverage and de-risk its business and create greater flexibility to execute ASCEND 2026-28, the company's strategic plan outlined at its recent Investor Day. The transaction establishes new revolving credit facilities with a group of existing bank lenders and rolls certain commitments under the existing revolver into the new facilities, extending maturities from October 2026 and May 2028 to May 2029. The refinancing builds on Conduent's recently completed sale of its public transit business and the announced sale of its tolling business. Together, these portfolio actions and the refinancing are expected to reduce the company's surety bond and letter-of-credit portfolio by roughly $550 million upon completion of the announced tolling sale, significantly reducing financial encumbrances and releasing capital supporting those instruments. With maturities extended to 2029, Conduent can continue investing in its core businesses and executing ASCEND 2026-28, the company's plan to accelerate profitable growth by standardizing its operations, specializing in the core solutions where it can lead and win, and scaling its go-to-market capabilities. The company's government and commercial programs, which millions of people rely on every day, continue without interruption. "Deleveraging and de-risking are important priorities as we advance ASCEND 2026-28. We've extended our maturities, secured additional commitments from our banking partners and used divestiture proceeds to repay debt. Together with a meaningful reduction in our surety bond and letter-of-credit requirements, these actions strengthen our financial foundation and give us greater flexibility to invest in our core businesses and execute our strategy," said Harsha V. Agadi, Conduent president and chief executive officer. Lazard served as strategic adviser to Conduent.