Logitech Cuts Jobs, Abandons Targets

Logitech Cuts Jobs, Abandons Targets

The cuts, which amount to 500 jobs or 15% of the company's salaried workforce, would be in sales, marketing, legal and IT Support departments.
Logitech plans to cut some 5 percent of its global workforce and abandoned its fiscal 2009 targets after consumers cut back on Christmas spending, the world's largest computer mouse maker said on Tuesday.



Logitech, which also makes speakers, webcams and keyboards, said the retail environment had deteriorated significantly during the December quarter and the economic environment was likely to deteriorate further in coming months.

The technology sector has been hit hard by the economic downturn with worried consumers tightening their belts, leading to job cuts at other companies like Sony, Philips and Motorola in recent weeks.