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3Com to Cut 500 Jobs | |
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| Time: 17:28 EST/22:28 GMT | News Source: Associated Press | Posted By: Guillaume Hébert | ||
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Network equipment maker 3Com Corp. on Tuesday cut about 500 jobs, or 8.5 percent of its work force, as part of its ongoing efforts to return to profitability. The latest reduction will bring the Santa Clara-based company's headcount to about 5,400 employees, down from 5,900 at the end of the last quarter and about 12,000 a year ago. 3Com expects to return to profitability by the end of its fiscal fourth quarter in May. In December, the company posted better-than-expected results. For the three months ended Nov. 30, it lost $104 million, or 30 cents a share, compared with a loss of $142 million, or 41 cents a share, last year. | ||
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