Logitech will cut 450 jobs as part of a restructuring plan

PC peripherals maker will lose 13 per cent of its workforce
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Yet more job cuts news today; PC peripherals maker Logitech will axe 450 jobs in an attempt to cut £51.9 million from its annual overheads.

The Swiss company has stated that the job cuts are part of a restructuring plan and equates to 13 per cent of its workforce.

Logitech made operating profits of $24m in fiscal Q4 2012 ended March compared to $4m in the previous 12 months, but sales fell two per cent to $532m.

“As we announced in April, this organisational streamlining, along with our strategy to deliver fewer but more compelling products, should position Logitech for renewed growth and profitability,” said Bracken Darrell, Logitech president. “While we are saddened by the departure of many colleagues, the restructuring is necessary for our future success.”

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