Multinational computer equipment maker, 3Com Corporation, which employs over 1,000 people in Ireland, announced today it was sacking 3,000 people worldwide in an effort to return to profitability.
3Com employs 1,100 people in its Blanchardstown operation. Figures for the number of people, if any, who will lose their jobs in Ireland were unavailable today.
"Our cost-cutting efforts are more important than ever, given the softness we have seen in demand, both in past quarters as well as the current quarter," Mr Bruce Claflin, 3Com's chief executive officer, said in a statement.
3Com said it would cut its total staff to 7,000 from 10,000 employees. Reductions will be made across most of the company's operations.
In March, 3Com announced a program to cut costs by US$1 billion. Network equipment makers have struggled in recent months amid growing inventories and weaker demand for electronics.
3Com said it would cut its total staff to 7,000 from 10,000 employees. Reductions will be made across most of the company's operations.
In February, 3Com said it would cut 10 percent of its work force, or 1,200 jobs, amid what it called "turmoil" in the telecommunications industry.
The company is also evaluating ways to cut property and plant costs, as well as lowering the cost of product design.