Networking specialist 3Com has revealed it is to lay off 3,000 employees – 30 per cent of its workforce.
The cutbacks will be made "over several quarters" and will affect both permanent and temporary staff. The latest lay-offs come just 10 weeks after 3Com dismissed 1,200 workers as part of a massive cost-cutting program that was sparked by a series of losses.
3Com aims to lower its annual expenses by $1 billion per year through a combination of streamlining its payroll and business units.
"The second round of layoffs is a necessary step in our plan to restore profitability," said 3Com CEO Bruce Claflin.
He added: "Despite this slowdown, it is our intention to return to profitability as quickly as possible, while positioning the company for profitable growth."
Brian Johnson, a 3Com spokesman: "We're taking a hard look at all of our products, to ensure short-term profitability."