Sun cutting 3,000 jobs, blames Oracle takeover delay
Sun Microsystems said Tuesday it is cutting 3,000 jobs over the next 12 months because of its delayed takeover by US business software giant Oracle.
In a filing with the US Securities and Exchange Commission (SEC), Sun said the layoffs were part of a restructuring plan brought about by the hold on its 7.4-billion-dollar purchase by Oracle.
"In light of the delay in the closing of the acquisition of the company," Sun said its board of directors had approved the job cuts "to better align the company's resources with its strategic business objectives."
The Santa Clara, California-based Sun, which employs more than 33,500 people worldwide, said the move will result in charges of between 75 million dollars and 125 million dollars over the next several quarters.