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Sun Slashes Jobs, Sets Restructuring

Stock quotes in this article: JAVA , IBM , HPQ , MSFT  

Sun takes drastic steps to tackle a tough economic climate

Troubled tech giant Sun Microsystems (JAVA Quote) on Friday announced plans to cut up to 6,000 jobs, or 18% of its global workforce, as the company attempts to breathe life back into its business.

The company, which faces stiff competition from IBM (IBM Quote) and Hewlett-Packard (HPQ Quote), is struggling with falling sales and an increasingly tough economic climate, prompting drastic action from chief executive Jonathan Schwartz.

"Today, we have taken decisive actions to align Sun's business with global economic realities," said Schwartz, in a statement. ...

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