Cognotec cuts global workforce
TECHNOLOGY NEWS
DUBLIN -- FX software firm Cognotec is cutting its global workforce by one quarter, as the economic downturn hits the service sector of the banking industry.
Cognotec, which provides banks with electronic FX trading capability on an ASP (application service provider) basis, told FX Week 50 positions are being cut worldwide from a total headcount of 200.
Chairman Brian Maccaba said the cuts come in response to a shortfall in the number of banks linked to the firm’s ASP platform for e-trading
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