Sun Microsystems Cuts 3,000 Staff Due to Delays

The Wall Street Journal reports that Sun Microsystems will cut roughly 10 percent of its workforce and, according to an SEC filing, the layoffs will result in charges ranging from $75 million to $125 million over the next several quarters.

Back in April, Oracle announced that it had agreed to buy Sun for $7.4 billion, or $9.50 per share. However, here we are months later and the deal has yet to close. This is due to delays at the hands of European Union Antitrust regulators who are busy looking into whether the acquisition would give Oracle a database software monopoly.

Reuters cites Oracle CEO Larry Ellison as saying Sun is losing about $100 million a month because of the delays.

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  • ssalim
    Stupid European Union.
  • Miharu
  • cyberkuberiah
    but the eu delay is not the sole reason for layoffs . oracle doesn't wanna feed all the staff anyway after the acquisition is complete , so why not let sun itself do the cleanup ?