Computing firm, Sun Microsystems, Inc., still shaky from the dot-com collapse of the ?90s, has announced plans to lay off 18% of its workforce, or approximately 6,000 jobs. The cuts come on top of previous layoffs ? 7,000 positions over the last three years. At the behest of its investors, Sun is also undertaking significant restructuring in hopes of creating financial ?breathing room? to return to profitability. Rick Hanna, an equity analyst with Morningstar, Inc. says that Sun ?isn?t dead yet? but is definitely wounded, and needs to figure out how to maximize the assets they have left. Sun administrators say the cuts will help them to ?trim their sails? during this economic crisis, and to avoid a selloff. Sun?s latest financial woes stem from a drop in high-end serves sales as businesses have gone under.
See "Sun Microsystems, fighting for survival, to lay of 18% of its workforce", Los Angeles Times, November 16, 2008