3Com losses double

Network equipment maker 3Com has announced that losses for the third quarter will be twice as large as the previous quarter.

The company forecast an operating loss of between $235m and $245m - up from a loss of between $80m and $100m - for Q3, which ends 2 March, 2001. Losses for last quarter were just $52.4m On Monday the company announced it will cut 1,200 jobs in a move to cut costs and stem losses.