3Com Reduces Costs in Consumer Broadband to Drive Profitability and Growth; Company Announces 1.5% Reduction in Personnel.Business Editors/High-Tech Writers SANTA CLARA Santa Clara, city, Cuba Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. , Calif.--(BUSINESS WIRE)--March 23, 2001 3Com Corporation (Nasdaq: COMS COMS 3Com Corporation (stock symbol) COMS Certified Orientation and Mobility Specialist COMS Continuous Opacity Monitoring Systems COMS City of Manchester Stadium (UK) ) announced today a reduction in force of approximately 170 people in its consumer broadband broadband Term describing the radiation from a source that produces a broad, continuous spectrum of frequencies (contrasted with a laser, which produces a single frequency or very narrow range of frequencies). operation including full-time regular employees and the alternative workforce. "In 3Com's quarterly financial results announcement this week, I said 3Com will restructure its operations in order to increase focus on core markets and improve financial returns," said Bruce Claflin, 3Com president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "3Com announced its intention to save $250 million in its consumer business and today's reduction in force in consumer broadband is part of the restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). ." Among the factors affecting 3Com's Q3, FY01 results, 3Com cited eroding prices and margins for its consumer broadband modem business. The reduction in force primarily affects employees located in 3Com's Rolling Meadows, Illinois Rolling Meadows is a city in Cook County, Illinois, United States. The population was 24,604 at the 2000 census. Geography Rolling Meadows is located at (42.076209, -88.025911)GR1. , facility who were notified today. The reduction in force is estimated to cost 3Com $4 million and will achieve an annual savings of $18 million. About 3Com Corporation 3Com simplifies how people connect to information and services through easy-to-use, connectivity products and solutions for consumers and commercial organizations. The company also provides access infrastructures and IP services platforms for network service providers. For further information, visit www.3com.com or the press site at www.3com.com/pressbox. |
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