France-based NFC chip supplier Inside Secure said it would cut up to 20% of its global workforce following the loss of more than $30 million in 2012.
Inside reported its fourth quarter and year-end 2012 earnings Wednesday evening, showing a dismal year for the vendor, especially in its NFC business.
Inside reported its overall revenue fell by 19% for the year to $122 million and recorded a net loss of $30.3 million, compared with a loss of $14.6 million in 2011.