Sun to cut 11 per cent of workforce

Sun to cut 11 per cent of workforce

Sun Microsystems will lay off close to 11 per cent of its workforce as the company continues to be punished by a slowdown in technology spending.

Sun last week reported revenue of $US2.7 billion for its first fiscal quarter, which ended on September 29. This marks a 4 per cent drop from the same quarter a year ago when Sun pulled in $US2.9 billion in revenue.

Sun plans to reduce its workforce from its current level of almost 39,000 workers. Reports issued earlier from Merrill Lynch & Co and Sanford C. Bernstein & Co had indicated that Sun could announce layoffs of up to 8,000 people, or 20 per cent of its workforce.

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