Sun Micro to cut 3,000 jobs NEW YORK: Computer maker Sun Microsystems Inc is cutting 3,000 jobs worldwide, or about 10 percent of its staff, blaming delays in its $7 billio n sale to Oracle Corp.
Oracle CEO Larry Ellison recently said that Sun is losing about $100 million a month because of uncertainty about the computer maker's future as European antitrust regulators pursue an in-depth probe of the transaction. Rivals IBM and Hewlett-Packard Co are taking advantage of the uncertainty by poaching Sun's customers with steep discounts. "Sun's business is really hurting," said Cross Research analyst Shannon Cross. Analysts had widely expected thousands of Sun employees to lose their jobs, but not until No. 2 business software maker Oracle closes the deal. Sun sold itself to Oracle after several years of failed attempts to devise a strategy to turn itself around. Last year it announced plans to 5,000 to 6,000 jobs and posted a net loss of $2.2 billion. Sun said the job cuts would take place over the next 12 months, and it expects to take $75 million to $125 million in charges over the next several quarters. It said the job cuts would occur worldwide -- in its North America, EMEA, APAC and emerging markets regions. http://www.topmasala.in/news/technology-news/details/sun-micro-to-cut-3-000-jobs-91735.asp --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en -~----------~----~----~----~------~----~------~--~---
