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Logitech has given more details on its workforce reductions, which it first announced in April as part of an earnings announcement.
The computer peripheral manufacturer - and one-time Google TV proponent - said it will cut 450 positions, or 13 percent of its worldwide non-direct-labor workforce. This will ultimately result in a net $80 million reduction in annual operating costs, Logitech said, with $32 million of that recorded in the first fiscal quarter of 2013 (which ends this month).
The San Francisco Business Times has reported that 90 of the 700 employees at the Newark, Calif., headquarters were let go.
When asked for more specifics on the reductions, a Logitech spokeswoman told TWICE: “Every department in the company was touched to some degree. A key principle for the reduction was to flatten the organization to work like a smaller, more entrepreneurial company.”
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.