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Logitech cuts 140 jobs

Posted on Monday, March 04 2013 @ 10:27:24 CET by

Logitech logo
As part of its reorganization, Logitech announced it will lay off 140 employees. CNET writes the number represents about 5 percent of Logitech's global workforce and should help the firm to more effectively align around its key businesses: mobility products and PC accessories.
Logitech has been going through an exceedingly tough time. The company posted an operating loss of $180 million during its fiscal third quarter (calendar fourth quarter) on sales of $615 million. The company's sales were down 14 percent compared with the same period last year.

That trouble prompted Logitech to announce in January that it will try to sell its Harmony Remote business, as well as its digital video security division. The company is discontinuing its speaker docks and console gaming efforts by the end of the year.



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