Logitech To Cut About 600 Jobs

Author
Aron Schatz
Posted
January 20, 2009
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4926

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In more signs of the time, Logitech will cut 600 jobs. The economy probably won't turn for at least a year so try to hang in there.

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The company expects to make the bulk of its job cuts in the fiscal fourth quarter and take a charge between $16 million to $18 million during the quarter. Overall, Logitech expects to take a $20 million to $24 million charge over the next 12 months. Logitech, a peripherals giant, sells to both retail stores and computer manufacturers and is facing a challenging time as its customers struggle, as well. Retail store Circuit City, for example, filed for a Chapter 11 reorganization bankruptcy in November but last week said it would have to liquidate after failing to find a buyer.

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