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.
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