Logitech Shifting to Mobile, Axes 140 Employees

By Saturday, March 2, 2013 0 , Permalink 0

Back in January Logitech indicated a company restructuring when it announced that it was going to shift its attention to mobile based products and with the recent announcement it is all the more clear that Logitech is indeed working towards this shift.

The reduction in workforce will not impact Logitech’s direct workforce. A total of 140 employees will be laid off saving the company somewhere between $16 and $18 million for 2014 fiscal notes Engadget. There is no specific time table that Logitech will follow for the layoffs.

The financial results from 2012 were disappointing with sales dropping due to a continued weakness in the global PC market and the results for 2013 up until now haven’t been bright either. Logitech sustained an operating loss of $180 million on sales of $615 million in its third quarter reports C|NET. Following these losses Logitech announced that it will be selling off its remote control division Harmony and the digital video security divisions.

Logitech is going to focus on new technologies like its ultrathin keyboard and will also concentrate in more profitable sectors.