Feeds

3Com confirms job cuts

Will decide next month who's to be axed

  • alert
  • submit to reddit

Internet Security Threat Report 2014

3Com has set the end of February as deadline to decide which of its 11,500 workers are for the chop after warning yesterday it intends to job cuts this quarter.

The plan is part of a major cost-cutting exercise. The job cuts will save the company $200-225 million a year, though it will have to take a one-off hit of $46-60 million to cover the cost of the redundancies.

3Com's economy drive won't only hit jobs. A company spokesman told AP yesterday that it is looking to trim travel expenses, purchasing costs and manufacturing expenditure. The company is even considering selling off plant, he admitted.

The redundancies are not entirely unexpected - 3Com warned late last year it might take such action. That warning came after the company announced a lower-than-expected loss of $52.4 million for its second quarter of fiscal 2001 Sales for the period were $789.5 million. ®

Related Stories

3Com reports losses and hints at job cuts
Motorola to axe 2500 jobs at phone plant
Gateway slashes workforce after poor results
Lucent to restate sales and cut 10,000 jobs

Providing a secure and efficient Helpdesk

More from The Register

next story
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.