Employment News
Oracle-Sun Layoffs To Be Far-Reaching
By eric | Dated: 06-07-2010
SearchOracle.com: According to a late Friday SEC filing of an amendment to Oracle’s restructuring plan for Sun, layoffs will be much higher than initially expected. Oracle’s original estimates given to the Securities and Exchange Commission in connection with its acquisition of Sun were included in its February plan and anticipated restructuring costs at around $325 million. The new estimate falls somewhere between $625 and $825 million. This could translate into more than 10,000 employees on the chopping block.Oracle is global computer technology corporation specializing in database management systems for businesses. The company, headquartered in Redwood, California, announced its acquisition of Sun, a company specialized in server and storage technologies, in April 2009.
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