Logitech to cut 450 jobs as part of restructuring
Logitech International SA says it is cutting 450 jobs — including about 100 in the U.S. — as part of its restructuring.
Company spokeswoman Nancy Morrison says the jobs to be eliminated are scattered through various parts of the company. They account for about 13 percent of the company's non-direct-labor workforce.
The Swiss company makes computer accessories, video conferencing equipment and other gadgets.
The company says it expects to record pre-tax charges of about $35 million this fiscal year as a result of the changes.
Logitech says the restructuring will simplify its organization, better align costs with current business and free up resources for growth opportunities.
The moves are expected to reduce the company's annual operating costs by about $80 million.