Update: 3Com to announce more cost cutting measures

3Com Corp. will cut another 3,000 jobs, or about 30 per cent 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 United States, 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.