Logitech announces a job cut

Computer accessories manufacturer Logitech has announced that they are now cutting 15 percent of its non-manufacturing jobs.
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The company has also now withdrawn their fiscal 2009 profit targets because of the deepening global recession.

The news is bad for the company and it affected their stock price at the share market.

The company is going to eliminate 500 positions and may reduce its 5,500 factory jobs.

Logitech Chairman Guerrino De Luca said in a statement: “The situation is really bad. We’re on really shaky grounds with the consumer. The situation is really unprecedented.”

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Source：TechWhack