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That's about 140 employees

Logitech's new CEO has clearly been busy, as a new company-wide reorganization plan has been laid out -- and it includes a number of layoffs.

Logitech plans to lay off 5 percent of its worldwide workforce, which is about 140 employees. This decision will give the company a charge of $12 million to $14 million in the fourth quarter of the 2013 fiscal year.

By doing this, Logitech hopes to place more focus on its key businesses, including PC accessories and mobile products. Logitech, like most tech companies, is realizing that the PC market is slowing substantially in favor of mobile devices like smartphones and tablets. Hence, moving along with this trend will help it during its troubling times.

“As we align the organization with our strategy to become a faster, more profitable company, we have also created opportunities to become more focused, improve operational effectiveness and even deliver additional cost savings that will contribute to improved profitability,” said Bracken P. Darrell, Logitech president and chief executive officer. “These actions support our goals to develop outstanding mobility- and PC-related products, streamline our cost structure and achieve faster times to market.”

Logitech is undoubtedly in a bit of a slump after posting an operating loss of $180 million on sales of $615 million during the fiscal third quarter.

Source: Logitech





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