New York, Oct 21: Despite few positive signs in terms of recovery from the world's worst economic crisis, massive lay offs continue to haunt the corporate world. Latest reports suggest that the leading computer manufacturer, Sun Microsystems Inc is cutting 3,000 jobs globally.
Blaming the delays in its 7 billion dollars sale to Oracle Corp, Sun Microsystem announced its intention to axe as much as 10 per cent of its workforce.
Job cuts would take place over the next year, and the company expects to take 75 million dollars to 125 million dollars in charges over the next quarters. And the lay off will take place world-wide including North America, EMEA, and APAC.
This comes after Oracle CEO Larry Ellison said that Sun is losing about 100 million dollars per month because of uncertainty about the company's future as European antitrust regulators pursue an in-depth probe of the transaction.
Sun's rivals such as IBM and Hewlett-Packard Co (HP) are taking advantage of the uncertainty by winning over the computer maker's customers with steep discounts.