Logitech’s newly appointed CEO is making his position known, grinding the axe and getting the pink slips ready.
In an announcement today the peripheral company has said that it will be cutting approximately 140 positions, around five percent of its worldwide non-direct-labour workforce.
Bracken P. Darrell, who look over the head honcho job at Logitech last month said the chops were as a result of the company taking on an “organisational alignment” and making “strategic priorities” in a bid to make cost savings of approximately $16 to $18 million in operating costs in Fiscal Year 2014.
These include increasing focus on mobility products, improving profitability in PC-related products and enhancing global operational efficiencies.
The axe wielder said the job cuts would help with the new plan by “delivering additional cost savings that will contribute to improved profitability”.
Logitech is trying to turn around its flagging business which has faced increasing competition from the smartphone and tablet market.
Last month the company also announced that it would be flogging its Harmony remote business unit following a “disappointing quarter”.
