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Jobs go at Extreme

More market misery

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Extreme Networks told the Securities and Exchange Commission yesterday that it is cutting more jobs.

The ethernet company is laying off five per cent of its staff. This is in addition to a one per cent cut earlier in the quarter. The company told the SEC it would spend $1.8m in severance payments and related costs - this is on top of $0.5m spent on earlier redundancies and shutting a facility.

Yesterday IBM confirmed it was cutting jobs in the US by a similar percentage.

The SEC filing is here. ®

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