Logitech to trim workforce by 15 percent | iLounge News


Logitech to trim workforce by 15 percent

Logitech has announced that it plans to cut approximately 15% of its salaried workforce due to the current economic situation. “During the December quarter, the retail environment deteriorated significantly,” Logitech Chief Executive Gerald Quindlen said. “We experienced varying degrees of weakness across all geographies and channels, as our customers reduced inventory levels in the face of weaker consumer demand. 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.” The company is expected to give details of the job cuts with its third-quarter results on January 20; it is currently unclear whether the cuts will affect the iPod accessory or Ultimate Ears product teams.

Related Stories

Subscribe to iLounge Weekly

Sign up for the iLounge Weekly Newsletter

iLounge is an independent resource for all things iPod, iPhone, iPad, and beyond.
iPod, iPhone, iPad, iTunes, Apple TV, Mac, and the Apple logo are trademarks of Apple Inc.
iLounge is © 2001 - 2018 iLounge, Inc. All Rights Reserved. Terms of Use | Privacy Policy