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.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV