Cognotec to Cut 25% of Its Workforce, Reflecting Economic Downturn
ORGANIZATION AND MANAGEMENT
DUBLIN--Cognotec, one of the veterans of the foreign exchange transaction system business, is cutting its global workforce by 25 percent, chairman Brian Maccaba tells Trading Technology Week.
As the economic downturn hits the service sector of the banking industry, Cognotec is chopping 50 positions worldwide from a total head count of 200. Job cuts are across the board, but core research and development will not be affected.
Maccaba says the cuts come in response to a shortfall in the number of
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