Rachael Singh, Accountancy Age, Monday 7 June 2010 at 10:08:00

Following acquisition of Sun Microsystems, Oracle are expected to spend $675m(468m) on restructuring the business and cut jobs in its European and Asianoffices


Oracle is to spend between $675m - $825m (468m - 572m) on restructuringcosts following its acquisition of Sun Microsystems.

The majority of jobs are expected to go at the company's European and Asianoffices, said the financial software giant.

Oracle amended its paperwork when it filed its "Sun Restructuring Plan, atthe Securities and Exchange Commission,V3.co.ukreported.

?The amendment further reduces the size of Oracle?s combined workforceprimarily in Europe and Asia, eliminates redundant costs resulting from theacquisition of Sun and reflects improved efficiencies in operations,? the filingsaid.

The financial software giant said restructuring costs will be in the regionof $675m - $825m which will cover severance costs, and other re-organisationexpenses.

Last year Sun Microsystems, the owners of Java ? a computer language used bymobile devices such as Blackberry - said the merger with Oracle would force itto cut approximately 3,000 jobs over the next year.

Further reading:

Oraclebid for Sun Microsystems

SunMicrosystems hemorrhaging over $100m a month

Oracleboosts database security with Secerno acquisition