This won’t help the already-high unemployment rates in Silicon Valley…
The Contra Costa Times is reporting Oracle may cut half of Sun workers
Oracle Corp. may fire as much as half of Sun Microsystems Inc.’s employees, or almost 13,800 people, when the $7.4 billion acquisition closes in the next few weeks, an analyst at UBS AG said.
Redwood City-based Oracle probably will have to cut jobs to squeeze a profit from Santa Clara-based Sun, Brent Thill, a San Francisco-based analyst with UBS, said Tuesday in a report. Sun employed almost 27,600 in September, according to a Sun filing.
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Oracle ranks second to Microsoft Corp. in software revenue. In October, Sun said it planned to cut as many as 3,000 jobs to pare expenses as it waited for the European Commission to approve the deal.
Oracle has announced 57 acquisitions since its January 2005 takeover of Pleasanton-based PeopleSoft Inc., which set off Oracle’s buying spree. In that time, the company often cut jobs to achieve profit goals. It fired 5,000 workers
February 13, 2011 at 6:20 am
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