3Com Corp. will cut another 3,000 jobs, or about 30 percent of its workforce, as part of an operation to cut annual operating costs by US$1 billion, the company said Monday.
Hardest hit will be finance, manufacturing, research and development, and human resource functions in 3Com's facilities in Singapore, Ireland, England, and the U.S., said 3Com EMEA (Europe, Middle East and Africa) Vice President Bert van der Zwan in an interview.
"This is the second and last phase of our restructuring process. In the first months of the process we already realized $500 million in savings. We want to begin our new fiscal year, on June 4, with a clean sheet," said Van der Zwan.
"We have been hit by the slowdown in the U.S. economy, just as all our competitors," said Van der Zwan, adding that the company's product portfolio won't be affected by the measures announced on Monday.
As part of the cost cutting operation 3Com announced 1,200 jobs in February, to bring about annual savings of about $250 million. In March the U.S. network hardware maker discontinued its consumer Internet Appliance product lines and reduced the cost structure of its broadband modem business, which resulted in another $250 million in savings.