Post SUN Microsystem's acquisition, Oracle Corp. will fire employees
Oracle Corporation USA will fire employees in its European and Asian offices as a part of restructuring process to accommodate the newly acquired Sun Microsystems. Oracle said in a filing with the US Securities and Exchange Commission that it expected $675 million to $825 million in restructuring costs -- on top of the $325 million it previously disclosed.
Oracle has not officially commend how many employees will be fired. Sun contributes about 20% of the Oracle's total employee base. Oracle said that $550 million to $650 million of the additional costs would go toward employee severance, $85 million to $115 million would be related to facilities consolidation, and $40 million to $60 million would pay for contract terminations.
Oracle has not officially commend how many employees will be fired. Sun contributes about 20% of the Oracle's total employee base. Oracle said that $550 million to $650 million of the additional costs would go toward employee severance, $85 million to $115 million would be related to facilities consolidation, and $40 million to $60 million would pay for contract terminations.
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