Sun Microsystems to cut 3,000 jobs

The open source software and server maker cuts another 3,000 positions in light of its delayed sale to Oracle.

EMAIL  |   PRINT  |   SHARE  |   RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
By David Goldman, CNNMoney.com staff writer

NEW YORK (CNNMoney.com) -- Sun Microsystems said it will cut 3,000 jobs over the next year, citing delays in its pending acquisition by Oracle, according to a regulatory filing released on Tuesday.

Oracle agreed to buy Sun earlier this year, but the deal has been held back by European Union antitrust regulators who are looking into whether the acquisition would give Oracle a database software monopoly. The European Commission is expected to reach a decision on the deal by Nov. 19.

Sun has already made sweeping job cuts over the past year, trimming 6,000 jobs since last November.

The latest round of cuts will cost the open source software and server maker between $75 million and $125 million in severance payments over the next several quarters, according to the filing.

A spokeswoman for Sun refused to comment for this story.

Shares of Sun (JAVA, Fortune 500) fell 1% in after hours trading. Shares of Oracle (ORCL, Fortune 500) also fell 1%. To top of page

Features
They're hiring!These Fortune 100 employers have at least 350 openings each. What are they looking for in a new hire? More
If the Fortune 500 were a country...It would be the world's second-biggest economy. See how big companies' sales stack up against GDP over the past decade. More
Sponsored By:
More Galleries
8 must-have travel apps Whether you've got wanderlust or an airline grievance, here are some apps to pack onto your phone. More
Hot stocks: 10 record breaking companies The S&P 500 is trading at all-time highs, and many well-known businesses are leading the charge. Time to buy or sell? More
My biggest retirement mistake Five CNNMoney readers share stories about saving that you can learn from. What they would do differently if they had another chance. More
Worry about the hackers you don't know 
Crime syndicates and government organizations pose a much greater cyber threat than renegade hacker groups like Anonymous. Play
GE CEO: Bringing jobs back to the U.S. 
Jeff Immelt says the U.S. is a cost competitive market for advanced manufacturing and that GE is bringing jobs back from Mexico. Play
Hamster wheel and wedgie-powered transit 
Red Bull Creation challenges hackers and engineers to invent new modes of transportation. Play

Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.