Sun Micro says to cut as many as 5,000 jobs
Jun 01, 2006
Sun Microsystems Inc. which has struggled in recent years to turn a profit and boost revenue, said on Wednesday it would cut up to 5,000 jobs, or 13 percent of its workforce, over the next six months
"It's a mixed bag in that Sun is finally taking more significant cuts to its cost structure," said Pacific Crest Securities analyst Brent Bracelin. "It's negative in the fact that some people were expecting more."
Some analysts had called for cuts of 12,000 or more among Sun's 37,500 staff. In addition to jobs, the Santa Clara, California-based company will shed a few Silicon Valley properties, putting its Newark campus on sale and exiting leased facilities in Sunnyvale.