Sun cuts 3,000 jobs as Oracle takeover twists in regulator limbo
Oracle hasn't completed its Sun Microsystems acquisition yet, but the restructuring is already underway.
In a regulatory filing, Sun said Tuesday that it will lay off 3,000 workers across the globe. The company added that it had to restructure as it waits for Oracle's purchase of the company to be approved by regulators---notably the European Union.
The filing with the Securities and Exchange Commission reads (Techmeme):
In light of the delay in the closing of the acquisition of the Company, approved a plan to better align the Company’s resources with its strategic business objectives, including reducing its workforce across the North America, EMEA, APAC and Emerging Markets regions by up to 3,000 employees over the next 12 months (the “Restructuring Plan”). The Company expects to incur total charges ranging from $75 million to $125 million over the next several quarters in connection with the Restructuring Plan, the majority of which relates to cash severance costs and is expected to be incurred in the second and third quarters of the fiscal year ending June 30, 2010.
Also see: Oracle tries to stop Sun’s bleeding: Is it too late?