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Computer server maker Sun Microsystems said Tuesday it would shed 3,000 jobs globally over the next 12 months because of the delay in its acquisition by Oracle as European regulators examine the $7 billion deal.
Sun Microsystems [JAVA
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] said it expects to incur charges of $75 million to $125 million over the next several quarters as a result, according to a filing with the U.S. Securities and Exchange Commission.
Most of the charges are expected to be taken in the second and third quarters of the fiscal year ending June 30, 2010, the company said.
In September, Oracle [ORCL
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] Chief Executive Larry Ellison said that Sun Microsystems was losing about $100 million a month as European regulators, who are concerned about possible harm to the database software market, delayed approval of the deal.
The job cuts are the latest in a series at the server and software maker, whose prolonged financial troubles led to the deal with Oracle in April.
—AP contributed to this report
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