Logitech Announces Workforce Cuts
Logitech, maker of peripheral equipment such as mice, keyboards and webcams, today announced it is cutting 15 percent of its salaried workforce. Blaming the deepening economic slowdown, Logitech said it is seeing weakening demand across all geographies and channels. With customers reducing inventory levels, Logitech said it expects the situation to only worsen in the coming months and the cuts are an attempt to further reduce its cost structure in light of what they expect to be an extended downturn. Logitech employees over 9,000 people worldwide with offices in Switzerland, Asia and the U.S.