Sun to cut 3000 jobs in the wake of Oracle takeover

Sun Microsystems plans to slash about 3000 jobs around North America as part of the company’s restructuring plan, it was announced today.

Sun Microsystems’ board of directors confirmed this morning the company needed to “better align” its resources with its strategic objectives, which includes making 3000 people redundant over the next 12 months. The move comes about two months after database giant Oracle bought the company.

Sun Microsystems said it planned to incur total charges ranging between $US75 million to $US125 million over the next few quarters due to the restructuring plan. The majority of this cost will go to cash severance costs. This is expected to hit the company in the second and third quarters of 2010.

Sun Microsystems spokesperson for Australia and New Zealand would not comment further on the job losses.

Got a question about this story? Leave it in Comments & Questions below.

This article is tagged with the following keywords. Find out more about MyNBR Tags

Comments & Questions

Commenter icon key: Subscriber Verified

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot


Sym Price Change
USD 0.7269 0.0000 0.00%
AUD 0.9101 0.0000 0.00%
EUR 0.5951 0.0000 0.00%
GBP 0.5249 0.0000 0.00%
HKD 5.6856 0.0000 0.00%
JPY 80.4820 0.0000 0.00%


Commodity Price Change Time
Gold Index 1331.0 4.850 2018-01-19T00:
Oil Brent 68.6 -0.710 2018-01-19T00:
Oil Nymex 63.4 -0.580 2018-01-19T00:
Silver Index 17.0 0.090 2018-01-19T00:


Symbol Open High Last %
NASDAQ 7312.0 7336.4 7296.1 0.55%
DJI 25987.3 26071.7 26017.8 0.21%