Newark, Calif. -- Logitech International, the Swiss maker of personal peripherals with U.S. headquarters in Newark, has announced an organizational restructuring which it said should save the company $80 million in annual operating costs. The moves included the elimination of a layer of business and sales executive management, as well as the consolidation of brand management and product portfolio management under the leadership of Logitech's business groups. "To get back to sustained, profitable growth, we need to be simpler, faster and more consumer-centric," said Bracken Darrell, the company's president. "I expect most of this restructuring to be completed by the end of the current quarter, freeing up resources to pursue our growth opportunities." Logitech reported sales for the fourth quarter of $532 million, down 3% from the prior year.