Logitech to cut salaried staff by 15 percent

Tuesday, January 6, 2009

The biggest thing goin around the market is Layoff. Here it is Layoff strikes Back.One more victim of Recession or Economic imbalance is Logitech International SA.Basically Logitech is a maker of mice,Webcam and other computer peripherals.IT announced on Monday that it is cutting its salaried work force by 15%.
Switzerland-based Logitech, which also has offices in Fremont, has about 3,500 salaried employees in a total work force of about 9,000.
There was a statement given by Gerald P. Quilndlen saying that "During the December quarter, the retail environment deteriorated significantly".He added in a statement that "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."
Company said it will book a restructuring charge for the job cuts and also said that company has a strong cash position, no debt, and is maintaining market share.

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