Sun to cut 3,000 jobs as EU plays truant
21 Oct 2009
Computer hardware and software maker Sun Microsystems has said it will cut 3,000 jobs in the next year as it awaits the verdict of an EU probe into a takeover by business software firm Oracle Corp.
These cuts are the latest in a series of cuts to be made by the firm, which has suffered prolonged financial woes.
Meanwhile, Sun is losing market share to rivals as its sales plummet, amid uncertainty about Oracle's long-term plans for the company.
Oracle CEO Larry Ellison said at an industry gathering in Silicon Valley last month, ''Sun is losing $100 million a month; we'd like to get this thing done.''
The European Commission has until 19 January 2010, to decide whether to clear the deal or issue an order blocking it (See: Sun-Oracle deal hits EU hurdle).
But, according to industry experts, the review could take as long as four months, meaning Oracle will have to postpone the integration of Sun.