3Com Corp., citing the U.S. economic downturn and turmoil in the telecommunications industry, said Monday that it would cut 1,200 employees or about 13 per cent of its staff.
The affected workers include full-time regular employees and contracted employees, the company said in a statement. The announcement is part of a global cost-reduction initiative first disclosed in December, said Bruce Claflin, 3Com president and CEO, in a statement. The company will now focus its resources on work critical to “market leadership and superior financial returns,” he said.
