Logitech Layoffs Job Cut: fires 500 employees: Finance Trading Times

Logitech Layoffs Job Cut: fires 500 employees

More bad news on the job front as more and more companies are going for layoffs. The latest one to add to the list is Logitech which has decided to fire some 500 employees or around 5% of its workforce. Logitech  Layoffs
How many employees may be fired in the Logitech layoffs?
The estimated no. of layoffs at Logitech stands at 500. It constitutes 15% of the Logitech workforce.

What are the reasons for Logitech layoffs?
Worsening global financial situation, competition, lack of demand and mounting costs are some of the reasons quoted by the management to justify the layoffs.

Which segment of employees will be affected in the Logitech layoffs ?
The effected employees will be from sales, marketing, legal and IT departments. It is reported that employees in manufacturing department will be spared.

Any other news about Logitech ?
Logitech, which will book a restructuring charge in the fourth quarter of fiscal 2009, said it would give a business update with its third-quarter results on Jan. 20 and that it expects savings from the restructuring to begin in the first quarter of fiscal 2010.Let's hope that alternative jobs are available to the affected employees of Logitech Layoffs Job Cut
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