Friday November 14, 2008

Sun Microsystems to cut 6000 jobs amid global credit crisis, Java pioneer Rich Green to leave

bloomberg.com :

Sun Microsystems plans to cut as many as 6,000 workers amid the global credit crisis. The reduction will eliminate as much as 18% of the staff, Sun said today [14 Nov 2008] - it had 33,000 employees at the end of September. The company is cutting back to cope with the "global economic realities," CEO Jonathan Schwartz said. Rich Green, executive vice president for software, will leave. Sun last month posted its second loss in three quarters and said its financial-services customers were curbing orders until they have more liquidity. Sun is the third company in Santa Clara to cut jobs this week. Applied Materials announced plans to cut 1,800 jobs, and National Semiconductor said it will shed about 5% of staff.

- This is hardly the first time that Sun has had to wield the axe. But in this environment of ongoing global economic collapse, this hardly comes as a surprise either. What is really telling in this instance is how the rapidly imploding financial industry is dragging down entire chunks of the business eco-system around it as it sinks, from limo drivers in New York to Broadway shows to IT jobs and now to server companies. The body count will be high.

See also :

1. Wave of job cuts across corporate America, mass layoffs well beyond Wall Street
2. New York may lose 165000 jobs on mass layoffs due to credit crisis
3. London banks to cut 62000 jobs in mass layoffs as credit crisis worsens
4. United States Postal Service to cut 40000 jobs in first layoff in history

(2008-11-14 23:01:56 SGT) [Java] Permalink

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