nice pump PR they put out...chip sampling and MIGHT be available in OCTOBER, LOL!!
this is what you should be focusing on, wink-wink...
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3Com outsources, reduces real estate
By Ted Griffith, CBS.MarketWatch.com
Last Update: 5:31 PM ET June 19, 2001
SANTA CLARA, Calif. (CBS.MW) -- 3Com Corp. said Tuesday it would shed real estate as part of a plan to outsource manufacturing to Flextronics.
3Com said it intends to sell facilities in Massachusetts and Illinois as well as a portion of its headquarters in Santa Clara, Calif. The maker of networking equipment also said a Singapore facility will become 3Com's Asia-Pacific distribution center.
A 3Com spokeswoman declined to say exactly how many jobs would be eliminated as part of the real estate consolidation, but she said the cuts are part of a work force reduction announced last month. 3Com said May 7 it would eliminate 3,000 jobs, or 30 percent, of its total work force of 10,000.
3Com said it's reducing real estate in light of its new deal with Flextronics, a Singapore-based manufacturer. 3Com said it will outsource manufacturing for its high-volume server, desktop and mobile connectivity products to Flextronics (FLEX: news, msgs, alerts) .
"Letting Flextronics do what it does best allows 3Com to do what it does best," Bruce Claflin, 3Com's president and CEO, said in a statement.
Ahead of the announcement, which was released after the close of trading, shares of 3Com (COMS: news, msgs, alerts) added 10 cents to $4.59 while shares of Flextronics gained 8 cents to $21.21.
Ted Griffith is a reporter for CBS.MarketWatch.com |
