Updated from 3:14 p.m. EST

Shares of

Sun Microsystems

(JAVA)

suffered Thursday, a day after the company announced it had swung to a loss, in part because of a hefty restructuring charge related to layoffs.

Sun shares closed down 8.2% to $4.46 Thursday trading, while the Nasdaq was off 3.2%.

The tech firm said its loss amounted to 28 cents a share. Excluding certain items, including the charge, Sun said it would have earned $114 million, or 15 cents a share, in the quarter. Revenue fell to $3.2 billion from around $3.6 billion.

Sun announced in November a plan to cut 6,000 jobs amid an increasingly hostile economic climate and competition from

IBM

(IBM) - Get Report

and

Hewlett-Packard

(HPQ) - Get Report

.

It expects to incur restructuring charges between $500 million and $600 million, $375 million to $450 million of which will be within the company's current fiscal year 2009.

Cost-savings aren't expected to be realized until the third quarter of the fiscal year.

This article was written by a staff member of TheStreet.com.