March 18, 2009

IBM in talks to buy Sun Microsystems

According to Reuters, Yahoo News: “IBM is in talks to buy Sun Microsystems Inc for at least $6.5 billion, The Wall Street Journal reported, in a deal that could bolster their computer server products against rivals such as Hewlett-Packard Co.

That would translate into a premium of about 100 percent over Sun’s Nasdaq closing price Tuesday of $4.97 a share, the paper said, citing people familiar with the matter.”

Sun stock is down 71 percent in the last 52 weeks, a far cry from an all-time high of $258.75 that it touched during the dot-com boom. The company — which is shedding up to 6,000 jobs, or 18 percent of its workforce — reported a net loss of $209 million for its second quarter ended December 28, compared with year-earlier net profit of $260 million. Revenue fell 11 percent to $3.22 billion.”

January 22, 2009

Sun notifies 1,300 people of layoffs

Filed under: Sun,US — 7macaw @ 1:06 pm
Tags: , ,

Sun Microsystems Inc. officials confirmed Thursday that the networking and storage company has notified 1,300 employees they would be laid off as part of a previously announced workforce reduction.

The reductions stem from a Nov. 14 announcement of “a series of changes designed to align (Sun’s) cost model with the global economy and accelerate the introduction of compelling open source innovations,” spokeswoman Dana Lengkeek said in an e-mail Thursday.

The reductions were made across “all levels,” including vice presidents and directors, she said.

Source: Boulder Daily Camera

Blog at