Identive Group, a secure ID and NFC tag and reader maker, has announced it will cut 11% of its global workforce as part of restructuring expected to save up to $5 million this year.
The company, however, said the cutbacks will not affect investments in NFC technology or “cloud-based” identity products, which it considers “hypergrowth markets.”
“We are being specific, our investment into NFC is not affected or impacted by the cost reduction program,” an Identive Group spokesman told NFC Times.