Oracle acquires Sun with 7.4 billion U.S. dollars and will lay off 10,000 people at best
According to foreign media reports, Oracle announced the acquisition of its rival Sun. The acquisition price is 9.50 U.S. dollars per share, the total value reaches 7.4 billion U.S. dollars.
Two weeks ago, IBM has just terminated the negotiations on the acquisition of Sun. At that time, IBM adjusted the acquisition price from 10 U.S. dollars per share to 9.40 U.S. dollars, and then, Sun’s board of directors rejected the offer from IBM.
Sun announced to lay off 1,500 employees this week, or make ready for the IBM acquisition
March 31 News, according to foreign media reports, Sun confirmed today, this week the company would lay off 1,500 people, which was part of layoff plan announced in a few months ago. But analysts have said that this may be preparation for the acquisition of Sun.
Sun announced layoffs about 5000 to 6000 worldwide
Sun announced as a part of plan of reduction in the annual cost of 700 million to 800 million US dollars, there will be a global scale of layoffs about 5000-6000, equivalent to 15-18 percent of the total number of employees.
Investors felt disappointment in the plan of Restructuring Sun
About the plan of layoffs analysts criticized that Sun for eight years had been using the same strategy, but the company appeared a clear need to adjust their business for the right size in order to get a reasonable profit and re-adjust its cost structure.
There was no information on regional layoffs announced in China temporarily
About the plan of layoffs analysts sources said that, Chinese related peoples of Sun on 15th showed that there was no information of layoffs in China for the time being.
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