Well-known computer devices producer Logitech is poised for a significant layoff involving 15% of its full time workers.
The company currently employs 9,000 workers worldwide, including both full time and informal (temporary) workers. 3,500 of them are full time employees, with 500 expected to be affected with the retrenchment exercise.
The unfortunate 500 is said to be those in the middle management positions.
Some few hundreds of Logitech’s employees in the US will begin receiving the dreadful “pink slips”, which represents nothing but bad news.
The worsening economic situation has very much affected the computer retail industry and this has forced the company’s management into looking at feasible options in reducing losses and cut expenditures. Sales from all geographical regions plunged dramatically during the Christmas and the year-end sale, and the consumer demand continues to stay weak.
Logitech produces computer devices and peripherals including keyboard, mouse, joystick, speaker, microphone, webcam and others. Its main manufacturing facilities are located in China, and the company is backed by a strong sales and marketing force with presence in Europe, Asia, Middle East, America and Africa, operating under Logitech brand and a few different brand names.