Sun Microsystems Inc. plans to cut up to 18 percent of its work force, or up to 6,000 jobs, in a company restructuring as it deals with declining demand. As part of the revamp, Sun said it is splitting its software organization into three business groups -- Application Platform Software, Systems Platforms, and Cloud Computing & Developer Platforms.
Sun shares have nose-dived 77 percent this year, more than double the decline in the Nasdaq Composite Index, to around $4, a 13-year low. The stock is down 98 percent since 2000, the peak of the dot-com boom.
Sun to cut up to 6,000 jobs; software chief exits as unit revamped [via]
Will Sun Be Forced to Sell Itself? [via]
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I feel bad that the employees have to suffer for a company that has lacked a specific goal in it's business plan. Unfortunately SUN has been teetering for some time now. Hopefully they can use this as an opportunity to properly focus there business model and return to the glory this company originally had.
ReplyDeleteSUN must refocus their business goals to account to their employees, stakeholders and shareholders.
ReplyDeleteI wonder if it would have been better if HP or Oracle buy over SUN assets and move on from there. Hope SUN can make good use of MySQL and make good money from it.
Cheers
hongjun