Identix Reduces Workforce 6%, Sees $3.5 Million Savings
MINNETONKA, Minn.
A leading biometrics technology company is cutting more than 30 full-time-equivalent job positions in an attempt to reduce expenses.
Identix Inc. hopes the cuts – which make up about six percent of its workforce – will yield savings of $3.5 million in its 2005 fiscal year beginning July 1.
Specifically, the company says the workforce reduction will help it take advantage of a go-to market strategy that it says better reflects the biometric market, and help Identix focus on biometric products and related services.
The net income of the remainder of the 2004 fiscal year is expected to modestly benefit from the cuts.
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