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3Com Plans Layoffs . . .
Aiming to save $1 billion in annual costs, 3Com last week said it would lay off about 3,000 people, roughly 30 percent of its work force. The company said the reduction will occur over several quarters. 3Com has been hit hard by slowing sales, and it recently shut down its Internet appliance division.
. . . as Does National
National Semiconductor, one of the tech industrys biggest chip suppliers, said it would cut 1,100 jobs, or about 10 percent of its work force. The company said it was eliminating the positions because of declining sales: It expects revenue for the quarter ending May 27 to be as much as 18 percent lower than the previous quarter.
Money in Storage
BlueArc last week said it received $72 million in third-round funding from Weston Presidio Capital, along with Celtic House International, Dell Ventures, Patricof & Co. Ventures and other investors. Based in Mountain View, Calif., BlueArc makes what it claims are the industrys fastest network-attached storage systems.