Low demand and global economy downturn
Logitech, a well known peripherals manufacturer has announced its plans to lay off 15% of their workforce. The reason for this is weak consumer demand and the global economic crisis.
15% accounts for about 3,500 employees, and it’s not a small number, especially for a company that’s not quite a giant.
Logitech also announced that they will have additional restructuring in the fiscal fourth quarter, but they’ll provide details after they see Q3 results.
More here.
