Software
Oracle Reportedly to Add 2,000 Workers
Stock quotes in this article:ORCL
REDWOOD SHORES, Calif. (TheStreet) -- Oracle(ORCL) plans to add 2,000 sales and engineering employees as it draws nearer to closing its acquisition of Sun Microsystems, the Wall Street Journal reports.
Oracle CEO Larry Ellison, in an interview Tuesday with the Journal, said his company's mission would change significantly following the closure of the Sun acquisition. Sun delisted from Nasdaq Tuesday, a sign the Oracle takeover was nearly complete, the Journal notes. In the interview, Ellison outlined plans to transform Oracle into a company that is as serious about server systems as it is about business software. Oracle's planned hiring will outnumber the cuts Oracle is making in Sun's headcount. "We are not cutting Sun to profitability," Ellison told the Journal. "We think that this business will be profitable immediately." Sun CEO Jonathan Schwartz, and some other top Sun executives, won't have roles at Oracle, sources familiar with the matter told the Journal. Oracle is expected to unveil its plans for Sun publicly on Wednesday. Ellison told the Journal he believes that the future of computing is in systems that combine hardware and software, similar to the way Apple(AAPL) functions. "It took us a while to decide that we would be better off with all of the pieces, and not working with partners," he said.TheStreet Premium Services
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn MoreOptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn MoreReal Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn MoreStocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn MoreTo begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
blog comments powered by Disqus
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
|
|---|---|---|---|---|
| 12,393.45 | 1,310.33 | 2,827.34 | 15.81 |
Oil *
101.78
|
|
DOWN
26.41 |
DOWN
2.99 |
DOWN
10.02 |
DOWN
0.44 |
10 Yr
1.58%
SPDR Gold
151.62
|
|
-0.21%
|
-0.23%
|
-0.35%
|
-2.71%
|
Data delayed 20 minutes |


Connect with TheStreet