Business
3Com axes 3,000 jobs
Networking equipment maker 3Com on Monday said it would cut its work force by 3,000 people, or 30 percent, in an effort to trim its costs by $1 billion.The announcement was expected.
Networking equipment maker 3Com on Monday said it would cut its work force by 3,000 people, or 30 percent, in an effort to trim its costs by $1 billion.
The announcement was expected. On Friday, some 3Com employees were told by their managers to expect layoffs Monday morning.
The Santa Clara, Calif.-based company currently employs about 10,000 workers.
The layoffs are part of 3Com's effort to return to profitability. The plan includes implementing a cost cutting program, which was announced in March, targeted to save $1 billion annually. Second, 3Com is reorganizing its business units to become more focused on the company's core products and to build better customer relations. --Erich Luening and Wylie Wong, Special to ZDNet News