Logitech axes 15% of salaried workforce as it restructures
Posted in: business, industry, logitech, Today's Chili
Logitech may be bringing the heat at CES, but that doesn’t mean it’s not feeling the pinch. Alongside a few new pieces of kit, the outfit has also announced that it will be undergoing a serious restructuring as it moves forward. According to president and chief executive officer Gerald P. Quindlen: “During the December quarter, the retail environment deteriorated significantly, and moreover, we expect the economic environment to worsen in the coming months and we are therefore taking significant actions to align our cost structure with what is likely to be an extended downturn.” Sadly, those “actions” involve sending home some 15% of its salaried workforce worldwide, and it’s expecting the savings from all of this to show in Q1 of fiscal year 2010. Ouch.
Filed under: Home Entertainment, Peripherals
Logitech axes 15% of salaried workforce as it restructures originally appeared on Engadget on Tue, 06 Jan 2009 09:35:00 EST. Please see our terms for use of feeds.
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