More bad news on the job front as more and more companies are going for layoffs. The latest one to add to the list is Logitech which has decided to fire some 500 employees or around 5% of its workforce.
How many employees may be fired in the Logitech layoffs?
The estimated no. of layoffs at Logitech stands at 500. It constitutes 15% of the Logitech workforce.
What are the reasons for Logitech layoffs?
Worsening global financial situation, competition, lack of demand and mounting costs are some of the reasons quoted by the management to justify the layoffs.
Which segment of employees will be affected in the Logitech layoffs ?
The effected employees will be from sales, marketing, legal and IT departments. It is reported that employees in manufacturing department will be spared.
Any other news about Logitech ?
Logitech, which will book a restructuring charge in the fourth quarter of fiscal 2009, said it would give a business update with its third-quarter results on Jan. 20 and that it expects savings from the restructuring to begin in the first quarter of fiscal 2010.Let's hope that alternative jobs are available to the affected employees of Logitech Layoffs Job Cut
Guide to Insurance, Mortgage, Loans, Finance, Credit Cards, Investments, Stock Market, Interest Rate, Mutual Funds, IPO, Trading Strategies
Wednesday, 7 January 2009
Logitech Layoffs Job Cut: fires 500 employees
Subscribe to:
Post Comments (Atom)
Copyright Information:
© http://invest-n-trade.blogspot.com
Please see Our Copy Right Policy. All the articles, posts and other materials on this website/blog are copyrighted to the owners of this portal. The content should NOT to be reproduced on any other website or through other medium, without the author's AND owners' permission.
DISCLAIMER: Before using this site, you agree to the Disclaimer.
About Us | Advertise with Us | CopyRight Policy & Fair Use Guide | Privacy Policy | Disclaimer |
No comments:
Post a Comment