Layoffs for Logitech: 15 Percent of Workforce Axed
Posted By: Stephen Johnson - Wednesday, January 07, 2009 11:05 AM

Computer peripheral maker Logitech is feeling the cold slap of the invisible hand of Capitalism: Sales are down so much, the company announced plans to lay off 15 percent of its salaried workforce.

"During the December quarter, the retail environment deteriorated significantly," Logitech Chief Executive Gerald Quindlen said, stating the obvious. "We experienced varying degrees of weakness across all geographies and channels, as our customers reduced inventory levels in the face of weaker consumer demand. Moreover, we expect the economic environment to worsen in the coming months, and we are therefore taking significant actions to align our cost structure with what is likely to be an extended downturn."

Logitech currently employs around 9,000 people. The company says it will give the details on the job cuts and other restructuring moves on January 20th.

While they were almost certainly in development before the current economic slowdown, the products Logitech unveiled at CES 2009 seem a little silly and hard-to-sell, given the hard times many are facing. Among Logitech's new products: a $200 keyboard (pictured above), A pair of $130 USB headphones and a $500 remote control.