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Logitech cuts 5 percent of core staff as part of its shift to mobile
Logitech made clear in January that it was jettisoning weight in a bid to stem losses and focus on more successful technologies like mobile peripherals. Sadly, we're learning today that this also includes cutting jobs. The company is shedding 140 positions, or about 5 percent of its non-manufacturing workforce, as part of a streamlining plan that could save an extra $16 million to $18 million during Logitech's fiscal 2014. While there's no specific timeframe mentioned, it's suggested the layoffs will come quickly when the company may pay up to $14 million to address the cuts during its ongoing fourth quarter. Let's hope those affected land on their feet, and that the savings pay off in the long run.
[Image credit: Coolcaesar, Wikipedia]
Filed under: Peripherals
Source: Logitech
Original Link: http://www.engadget.com/2013/03/01/logitech-cuts-5-percent-of-core-staff/
Engadget
Engadget is a web magazine with obsessive daily coverage of everything new in gadgets and consumer electronics. Engadget was launched in March of 2004 in partnership with the Weblogs, Inc. Network (WIMore About this Source Visit Engadget