Sun To Cut 3000 Jobs
Sun Microsystems, recently bought by Oracle, have announced plans to cut 3000 jobs in the near future.
In a report handed in to the SEC (US Securities and Exchange Commission) Sun blames delays caused by the ongoing investigation by the European Union for the loss of jobs. Cuts will take place over the next twelve months in North America, Asia and Europe. The so called ''restructuring'' will cost Sun between 75 and 125 million US Dollars, says the report, with the lion's share of the sum occurring in the second and third quarter of 2010.
As previously reported, Oracle announced its $7,5 billion takeover of Sun in April. Both companies consider the takeover complete, contrary to the ongoing EU Commission investigation regarding possible market domination and therefore competition irregularities. Sun Microsystems will bring its free data bank MySQL into the deal.
Issue 255/2022
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News
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