Sun Microsystems Inc. plans to cut up to 18 percent of its work force, or up to 6,000 jobs, in a company restructuring as it deals with declining demand. As part of the revamp, Sun said it is splitting its software organization into three business groups -- Application Platform Software, Systems Platforms, and Cloud Computing & Developer Platforms.
Sun shares have nose-dived 77 percent this year, more than double the decline in the Nasdaq Composite Index, to around $4, a 13-year low. The stock is down 98 percent since 2000, the peak of the dot-com boom.
Sun to cut up to 6,000 jobs; software chief exits as unit revamped [via]
Will Sun Be Forced to Sell Itself? [via]
