3Com Cuts Personnel to Rein in Costs
SANTA CLARA, Calif., Feb. 28 -- 3Com Corp. announced an across-the-board reduction in force of about 1200 people including full-time regular employees and the alternative workforce.
"In light of the US economic downturn and turmoil in the telecommunications industry, I announced in December a global cost reduction initiative," said Bruce Claflin, 3Com president and CEO. "3Com will focus all of its resources on work critical to market leadership and superior financial returns."
3Com expects the move will be the first step towards improving cost effectiveness and efficiency in operations. The company will continue to focus on cost reductions in all four areas outlined in its restructuring plan: employment, discretionary costs, product costs and savings in plant/property and equipment.
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