14 DAY TRIAL // Logitech may be a world-famous maker of PC peripherals, but it hasn't been doing all that well lately.
In fact, its finances have been declining, so the company has entered a restructuring process.
Part of the plan will have been put into effect by the time Logitech exits the first quarter of its fiscal year 2013. Oddly enough, said three-month period ends on June 30, 2012.
Anyway, Logitech will record a massive restructuring charge of $35 million (28.-7 million Euro), but hopes to save $80 million (64 million Euro) in annual operating costs.
The worst part of the deal is that the whole process will involve 450 job cuts. That's 13% of the non-direct global labor force.
It remains to be seen if the IT player succeeds in its quest to free up resources, simplify its organization and align costs with current business.