Logitech looks to lay off 140 employees as trouble persists
The company's workforce reduction is equal to about 5 percent of its total worldwide employee base.
Logitech is looking to make some major changes, and part of that plan is a reduction to its workforce.
The company announced today that it will lay off 5 percent of its worldwide workforce, or about 140 employees, and take a charge related to that of $12 million to $14 million.
Logitech has been going through an exceedingly tough time. The company(calendar fourth quarter) on sales of $615 million. The company's sales were down 14 percent compared with the same period last year.
That trouble prompted Logitech to announce in January that it will try to sell its Harmony Remote business, as well as its digital video security division. The company is discontinuing its speaker docks and console gaming efforts by the end of the year.
Logitech today acknowledged that it's having some trouble, saying that the workforce reduction should help it more effectively align around its key businesses -- mobility products and PC accessories.