Clarification at 7:40 a.m. PST: The percentage figure for net income has been fixed.
Logitech International announced late Monday plans to cut 550 to 600 jobs, as it posted a steep drop in its financial performance and predicted continued weakness in the months ahead.
The company expects to make the bulk of its job cuts in its fiscal fourth quarter, which started January 1, and take a charge of $16 million to $18 million during the quarter. Overall, Logitech expects to take a $20 million to $24 million charge over the next 12 months.
Logitech, a peripherals giant … Read more