Zwipe cuts back on R&D and marketing in hopes of being profitable

Having scrounged all the affordable funding they could find and held their corporate breath as long as they could, executives at biometric authentication company Zwipe are shedding extremities.

They have issued a statement euphemistically announcing the "streamlining," the executives say they expect cuts to quicken their "path toward profitability in the medium term."

It has been a tough few quarters in the industry, with firms forced to accept increasingly costly financial life rings.

Starting this week, Zwipe's headcount will …

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