Sun to axe 3,000 jobs after Oracle delay
Delays in the acquisition of Sun Microsystems by database giant Oracle will cost 3,000 jobs over the next 12 months.
European regulatory authorities have questioned the acquisition - it was supposed to be completed earlier in the year.
In a filing with the Securities and Exchange Commission (SEC), Sun said: "In light of the delay in the closing of the acquisition of the company, [the board] approved a plan to better align the company's resources with its strategic business objectives, including reducing its workforce across the the North America, EMEA, APAC and Emerging Markets regions by up to 3,000 employees."
Sun will take a charge ranging from between $75 million to $125 million over the next few quarters.
The CEO of Oracle, Larry Ellison, estimates Sun Microsystems is currently losing around $100 million per month while the acquisition limbo continues.