Logitech is the latest company to bow under the global economic strain. The PC accessory maker had a rough last quarter and now has a tough road ahead. But who is to blame? Anyone? Everyone? There doesn’t seem to be a major CE company that has posted positive third quarter results and layoffs seem to be a common trend; Logitech is going to layoff 550-600 salaried positions.
As people are struggling to make bills, cash available to spend on a $100+ keyboard isn’t available. Plus, with Circuit City now gone (we can say that now, right?) a major retailer isn’t available to pimp Logitech’s wares. Hopefully, Logitech can weather the storm as it always has been a staple in the PC arena and I know of one group of bloggers that would shut down in fits of rage without their Logitech mice and keyboards.
Nooooo! I want an upgraded Trackman! Hire those people back and make THAT happen!!
Logitech has $480m cash in the bank according to its finanical results published within 48hrs.
They have said the downturn has hit sales and letting go of staff is restructure to weather economic climate. However the company is not in financial trouble – its still posted profits, just down significantly from last year is all.