The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Information / Communication Computer Programming, Consultancy And Related Activities Computer Programming, Consultancy And Related Activities 62 - Computer programming, consultancy and related activities
5,000 jobs Number of planned job losses
Announcement Date
31 May 2006
Employment effect (start)
1 June 2006
Foreseen end date
30 November 2006
Description
US computer company Sun Microsystems is to cut up to 5,000 jobs, or 13% of its workforce worldwide, in an attempt to turn around five years of losses. The firm aims to eliminate the jobs over the next six months, which it said should yield annual cost savings of up to $590m (£313m). But the restructuring plan is expected to cost Sun up to $500m over the next few financial quarters. The firm wants to regain market share from rivals Dell and Hewlett-Packard.
Sources
31 May 2006: BBC Website
Citation
Eurofound (2006), Sun Microsystems, Internal restructuring in World, factsheet number 63594, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63594.
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