Sun Will Cut Up to 6,000 Workers as Financial Crisis Deepens
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Sun Microsystems Inc. plans to cut as many as 6,000 jobs as the company tries to cope with plunging sales of server computers to financial firms, market-share losses to bigger competitors and a spiraling stock price. The reduction, which will eliminate as much as 18 percent of the staff, will shave $700 million to $800 million from annual expenses, Sun said today in an e-mailed statement. The moves will cost as much as $600 million in the next 12 months.
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