Sun Microsystems Cuts 3,000 Jobs, Awaiting Oracle Takeover
World's fourth largest server manufacturer Sun Microsystems on Tuesday revealed plans to cut some 3, 000 jobs or more than 10 percent of its total workforce around the world pending the deal with Oracle, which is being held off by antitrust commission in Europe.
Top technology firm Sun Microsystems Inc. on Tuesday revealed plans to cutoff some 3, 000 employees or 10 percent of its total global workforce as the company awaits takeover by computer giant Oracle Corp.
The fourth largest server maker in the world has announced the planned slash of its global workforce as antitrust regulators in Europe look into the takeover deal with Oracle. According to documents filed at the regulator’s office, the latest job cuts are part of the series of cost cutting being implemented by Sun following decades of financial struggles.
Reports told that Sun has been eyeing the $7.4 billion deal with Oracle but delays due to antitrust scrutiny have left the company standing for its survival. Latest data from Sun showed that it has already lost grounds and market shares against its competitors IBM Corp. and Hewlett-Packard Co.
The two direct rivals have been exploiting potential Sun customers fronting the uncertainty of its deal with Oracle, causing too more than $2.2 billion losses in the fiscal year of 2009.
Sun spokespersons said that the cutoff, which will take effect next year, will affect major operations in North America, Europe, and Asia. It will be recalled that Sun Microsystems had already slashed some 7, 600 jobs in the past three years.
Likewise, in its filing at the Securities and Exchange Commission, Sun said that it will incur some $75 million to more than $125 million in reconstruction charges in a period of more than five years.
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