The Financial Times is reporting that Texas-based Internet payments operator Globeset has laid off almost all its 300 staff and closed its international offices after a cash crisis.
The privately-owned company- whose backers include Deutsche Bank, American Express, Citigroup, and Chase Manhattan - is believed to be looking for a buyer for its technology, the paper reports.
The FT quotes an un-named employee at the company's Slough office as saying that almost all US staff had been sacked on Monday. "The UK office is closed," the source is reported as saying. "As of the end of today we will no longer have an office in the UK."