Deathwatch - tough times for Logitech, 1,000 jobs cut

7 January 2009

Computer accessory gadgetmeisters Logitech aren't in trouble because of the recession. Still, they're laying off 15 per cent of the workforce, and the Chief Exec describes the current trading conditions as the worst the company has ever experienced. Apart from that, everything's peachy.

15 percent of Logitech's staff equates to another 1,000 jobs disappearing into the swirling black hole of the encroaching recession. Despite the business stalling and significant cutbacks, CEO Gerald Quindlen (really?) is all smiles:

"Although the external environment is more challenging than anything we've experienced before, we believe Logitech is very well positioned to manage through this downturn. We have a strong cash position, no debt, and we continue to maintain market share across multiple segments and geographies."

To our trained ear, that almost sounds like a company that wouldn't say no to a buyout offer. And we dare say Quindlen won't be amongst the 1,000 redundancies. Thanks to Bitterwallet reader Daniel for the story.

[PC Retail]

TOPICS:   High Street News

7 comments

  • Liam
    There was speculation from some tech sites that Microsoft may buy logitech. http://www.engadget.com/2008/01/10/microsoft-to-buy-logitech/ Many said it wouldn't happen as it would give Microsoft a monopoly on keyboard and mice etc... I wouldn't be surprised if someone like Asus buys them.
  • Ed.
    Thats a shame. Logitech are a top company and I"ve used many of their great products. I hope Micro$oft don't buy them. M$ are the opposite of King Midas, everything they touch turns to shit.
  • Eshtal
    Logitech products are great and affordable .... they ll hopefully recover .. soon
  • andy y.
    whether your company is doing well or badly it pays to sack some of staff.it makes the rest work harder for less
  • Mark
    Wow. A company that I actually don't mind buying from is in trouble. Geez ... maybe this recession thing isn't all good news after all.
  • ODB
    Barclays just announced 400 jobs going too
  • Ows
    Big shame. I've one of their iPod speaker-fongdoolies, and it really is a top piece of plasticky goodness, with sphincter-rattling volume.

What do you think?

Connect with Facebook, Twitter, or just enter your email to sign in and comment.

Your comment