|
Java Industry News More Heads to Roll at Sun
Oracle told the SEC the latest round of pink slips started going out overseas on May 28
By: Maureen O'Gara
Jun. 8, 2010 07:15 AM
Sun appears to be sticking in Oracle's craw and so it's gonna cough up more of what it can't digest and lay off what looks to be a lot more Sun people - mostly in Europe and Asia, it says. It didn't say how many people but late Friday it told the SEC that the severance charges alone would run somewhere between $550 million and $650 million.
Oracle's also projecting charges of $85 million-$115 million related to facilities and $40 million-$60 million in contract termination costs. So that's another $675 million-$825 million - mostly in cash - or a total of somewhere between $1 billion and $1.15 billion, triple its initial $325 million Restructuring Plan. When Oracle finally got Sun there were about 20,000 Sun people left and Oracle said it was going to can a thousand of them and then hire 2,000 mostly in sales. It also said that the people who had speculated that there was going to be massive jobs cuts "should be ashamed of themselves" because Oracle was going to grow Sun to profitability, not cut it to profitability. Well, it told the SEC the latest round of pink slips started going out overseas on May 28. It also said it expects to incur the additional costs through calendar year 2011. It's already written over $235 million of the first $325 million. Reader Feedback: Page 1 of 1
|
|
||||||||||||||||||||