Logitech to cut around 300 workers globally with 'limited number of Irish jobs' impacted

The company's workforce in Cork grew to 300 after a sizeable expansion in 2021

Logitech's 46,00 sq ft building at City Gate Plaza Two, Mahon, Cork, developed by JCD Group

Keyboard and computer accessory maker Logitech are the latest firm to announce sizeable layoffs as the tech sector grapples with a sharp decline in post-pandemic demand.

In total, around 300 workers will be cut as part of the downsizing, with spokeswoman, Nicole Kenyon saying it was "regrettable" that a number of employees were affected.

Speaking to the Irish Examiner, a spokesperson for Logitech said, "We can confirm regrettably a number of employee roles were affected around the world, including a limited number from Ireland. 

"It is part of Logitech’s practices to support all affected employees as they transition to new employment opportunities."

Logitech has a strong presence in Cork, first opening in Cork in 1988. Just recently the company moved to a new office in Mahon’s City Gate Plaza Two from its prior location in Cork Airport Business Park.

Following its sizeable expansion in 2021, the company added 100 new workers, bringing its total headcount to around 300. In 2021, 50 jobs were created with commitments that they would be added in the next three years, marking it as one of the key offices in Logitech’s global footprint.
Globally, the NASDAQ-listed company employs over 8,000 employees.

The Swiss company’s move is in line with downsizing efforts across the tech industry. After a pandemic boom, when computer peripherals were in demand during work-from-home mandates, revenue collapsed. Logitech’s revenue plummeted 22% from a year earlier in its fiscal 2023 third quarter, to $1.3bn (€1.19bn).

The company attributed the slump to the broader macroeconomic environment and “lower enterprise and consumer spending,” Chief Executive Officer Bracken Darrell said in the January report. The company also cut its outlook for the year.

Logitech had 8,200 employees as of March 2022, it said in its latest annual report. In January, the company hired a new chief financial officer, Charles Boynton.

Additional reporting from Bloomberg