Logitech Forced To Lay off Employees

Discussion in 'Off-Topic Discussion' started by CatfishRivers, Jun 14, 2012.

  1. CatfishRivers

    CatfishRivers Well-Known Member

    Apr 5, 2011
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    Logitech forced to lay off employees - AfterDawn (click for full article)

    "As part of their global restructuring efforts, Logitech will lay off 450 employees.The struggling accessory maker's move will reduce workforce by 13 percent, and trim costs by $80 million.

    Logitech fired their CEO earlier in the year and just announced his successor would be Whirlpool executive Bracken Darrell.

    The company's fortunes turned for the worst when Logitech saw a massive loss due to its failed Revue set-top box.

    Former CEO Guerrino de Luca admitted the company was far too bullish on the technology when it launched the box, overinvesting at a time when it was still unclear whether the technology would be widely embraced. Logitech took a $90 million loss on their overstock of the device."

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