Sun Microsystems decides to slash up to 6000 jobs; split software organization
Citing a worsening economy, Software giant Sun Microsystems Inc. has informed that it would cut up to 18 percent of its work force, or up to 6,000 jobs, as part of a larger restructuring.
Nasdaq-listed Sun said the restructuring move will help in annual saving between $700 to $800 million.
As part of the revamp, the high-end computer maker, which has struggled with declining sales and a plunging stock price said, it is splitting its software organization into three business groups -- Application Platform Software, Systems Platforms, and Cloud Computing & Developer Platforms.
The Santa Clara server and software maker said the actions will result in a charge of $500 million to $600 million over the next 12 months.
In addition, Sun stated in a communiqué that Rich Green, executive vice president of software, "has chosen to leave the company”.
In early trading, Sun Microsystems shares were down 1.23%, or 05 cents, to $4.03, in Nasdaq (Friday).
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