Oracle expected to axe jobs -- perhaps 10,000 -- after Sun deal
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More layoffs are expected at Sun Microsystems Inc. as a result of Oracle Corp.'s planned $7.4 billion acquisition, with one Wall Street analyst predicting today that as many as 10,000 people could lose their jobs at the Silicon Valley icon. Oracle expects that Sun's operations will contribute $1.5 billion in operating profits during the software vendor's next fiscal year and $2 billion the following year. That would make the Sun deal "more profitable in per-share contribution in the first year than we had planned for the acquisitions of BEA, PeopleSoft and Siebel combined," Oracle President Safra Catz said as part of the buyout announcement, referring to the three other large acquisitions made by Oracle in recent years.
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