Logitech to trim global workforce by 15%
Spokesperson confirms possibility of employees in the Middle East being affected
Following a wave of layoffs in the technology world, Logitech is the latest to announce cuts in its global workforce stemming from bleak economic conditions.
The Swiss company has confirmed that 15% of its salaried workforce will be made redundant, which translates to about 500 out of 3,500 jobs.
"During the December quarter, the retail environment deteriorated significantly," said Gerald P. Quindlen, Logitech's president and chief executive officer in a statement.
He added that the company expects “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."
Employees in the Middle East are also at risk of being laid off.
Ben Starkie, Logitech's corporate communications manager for the EMEA region, revealed to itp.net that “decisions won’t be made based on geography but rather by job roles and function,” and that “it will take until the end of March” to finalize the plans globally.
“Employees in the Middle East are part of the 3,500, so there is a possibility they will be affected,” added Starkie.
Withdrawing its previous fiscal 2009 forecasts, the company will now update investors at its Q3 earnings briefing on January 20.