tech:

taffy

Logitech Expects $35M Restructuring Charges

[Techtaffy Newsdesk]

Logitech says it expects to record pre-tax charges in the current fiscal year of approximately $35 million associated with the company’s restructuring. Logitech is undertaking a restructuring to simplify the organization, to better align costs with its current business and to free up resources to pursue its growth opportunities. The restructuring is expected to yield approximately a net $80 million reduction in annual operating costs. The reduction is expected to begin benefiting Logitech in the second half of the fiscal year 2013 with the full savings expected to be achieved the year after.

Approximately $32 million of the restructuring charges are expected to be recorded in the first quarter of FY 2013, ending June 30, 2012. The largest component of the restructuring charge will be cash charges related to a workforce reduction. The company is eliminating approximately 450 positions, or 13 per cent of its worldwide non-direct-labor workforce. Logitech expects that reduced personnel-related costs will represent an estimated 60 per cent of the approximately $80 million savings in annual operating costs.

 

Just in

Apple sued in a landmark iPhone monopoly lawsuit — CNN

The US Justice Department and more than a dozen states filed a blockbuster antitrust lawsuit against Apple on Thursday, accusing the giant company of illegally monopolizing the smartphone market, writes Brian Fung, Hannah Rabinowitz and Evan Perez.

Google is bringing satellite messaging to Android 15 — The Verge

Google’s second developer preview for Android 15 has arrived, bringing long-awaited support for satellite connectivity alongside several improvements to contactless payments, multi-language recognition, volume consistency, and interaction with PDFs via apps, writes Jess Weatherbed. 

Reddit CEO Steve Huffman is paid more than the heads of Meta, Pinterest, and Snap — combined — QZ

Reddit co-founder and CEO Steve Huffman has been blasted by Redditors and in media reports over his recently-revealed, super-sized pay package of $193 million in 2023, writes Laura Bratton. 

British AI pioneer Mustafa Suleyman joins Microsoft — BBC

Microsoft has announced British Artificial Intelligence pioneer Mustafa Suleyman will lead its newly-formed division, Microsoft AI, according to the BBC report. 

UnitedHealth Group has paid more than $2 billion to providers following cyberattack — CNBC

UnitedHealth Group said Monday that it’s paid out more than $2 billion to help health-care providers who have been affected by the cyberattack on subsidiary Change Healthcare, writes Ashley Capoot.