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Sun to Cut 3,000 Jobs as it Waits on European Buyout OK

Posted by Susan Hall Oct 21, 2009 9:34:14 AM

Oracle CEO Larry Ellison has complained that the holdup in getting European regulatory clearance for its buyout of Sun Microsystems is costing the company $100 million a month.

 

Now Sun says it can't deal with the delay and will cut 3,000 jobs over the next year as a result, reports CNNMoney.com. This will be in addition to the 6,000 job cuts announced earlier.

 

The job cuts represent 10 percent of Sun's global work force. The San Francisco Chronicle quotes James Staten, an analyst with Forrester Research, saying Sun has to keep its expenses in line should the acquisition not happen. If it does, he expects more layoffs at Sun as Oracle integrates the company into its own business.

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