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3Com Rises 3.6% on Report of Layoffs

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Network equipment maker 3Com (COMS) rose 3.6% in preopen Island trading. The Associated Press reported Monday that 3Com plans to cut workers to slash costs as much as $225 million a year. AP said the company will decide by late February how many of its 11,500 workers to fire. The move will result in a $40 to $60 million charge this quarter, AP said.

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