3Com axes 3000 jobs as part of cost savings plan
3Com is cutting 30% of its staff, reducing its total staff to 7000, as part of its restructuring plans to return to profitability by next year.
3Com is cutting 30% of its staff as part of its restructuring plans as it bids to return to profitability.
“Our cost efforts are more important than ever, given the softness we have seen in demand, both in the past quarters as well as the current quarter,” said Bruce Claflin, 3Com’s CEO.
The cuts are likely to occur throughout the company’s operations, and will reduce the total staff from 10,000 to 7,000.
The staff reductions form part of 3Com’s strategy to return to profit by fiscal 2002; other areas where 3Com is looking to make cost savings include, property, plant and product design.