Logitech giving permanent vacations to 15% of its workforce.

It what is now a daily occurrence, another company is announcing workforce cuts.  Logitech, while supposedly set to do well this week at CES, is not immune from the current economic hardships.  According to CEO Gerald P. Quindlin: “During the December quarter, the retail environment deteriorated significantly, and moreover, we expect the economic environment to worsen in the coming months and we are therefore taking significant actions to align our cost structure with what is likely to be an extended downturn.”  How long will it take for the cost cutting measures to turn into black ink on the companies financial reports?  Try 2010.  This is going to be a great year.

Source: Engadget , Aipp64 *pic*