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3Com to lay off 1,200

3Com, the computer networking products maker, said on Monday it will cut 1,200 jobs amid a downturn in the U.S.

Written by ZDNET Editors, Contributor Feb. 25, 2001 at 4:00 p.m. PT

3Com, the computer networking products maker, said on Monday it will cut 1,200 jobs amid a downturn in the U.S. economy and "turmoil" in the telecommunications industry.

The company said the move was the first step in a cost savings program announced in December.

Shares of 3Com (coms) rose 28 cents to $9.31 on Nasdaq, off a 52-week high of $119.75. Full story. Margaret Kane, ZDNet Inter@ctive Investor

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3Com to lay off 1,200

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