Oracle is to spend between $675m – $825m (£468m – £572m) on restructuring
costs following its acquisition of Sun Microsystems.
The majority of jobs are expected to go at the company’s European and Asian
offices, said the financial software giant.
Oracle amended its paperwork when it filed its “Sun Restructuring Plan, at
the Securities and Exchange Commission,
“The amendment further reduces the size of Oracle’s combined workforce
primarily in Europe and Asia, eliminates redundant costs resulting from the
acquisition of Sun and reflects improved efficiencies in operations,” the filing
The financial software giant said restructuring costs will be in the region
of $675m – $825m which will cover severance costs, and other re-organisation
Last year Sun Microsystems, the owners of Java – a computer language used by
mobile devices such as Blackberry – said the merger with Oracle would force it
to cut approximately 3,000 jobs over the next year.
Colin responds to the call for 'Darwinism' in accountancy
Does Darwin's theory apply to taxation? Colin ponders...
If businesses do not take cyber security seriously in their business planning regulators may do it for them, the ICAEW has warned
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states