Market uncertainty hits Cognotec

However, Maccaba said the vendor would add two to its Singapore office, doubling support staff in the Asia-Pacific region.

Maccaba said the job cuts reflect market conditions. "Our core customers are doing pretty well, and the volume of transactions from clients [over our systems] was up by 52% year-on-year in January." But on the other hand, with continuing economic uncertainty and banks continuing to cut staff and budgets, "there is not a lot of strategic new spending going on. We can suppo