Tech News - Sun Micro May Cut 8,000 Jobs -Analyst

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Sun Micro May Cut 8,000 Jobs -Analyst

10/15/2002

NEW YORK (Reuters) - Sun Microsystems Inc. may cut up to 8,000 jobs, or about 20 percent of its work force, Merrill Lynch analyst Steven Milunovich said in a research note on Tuesday.

Milunovich said that Sun, which makes sophisticated computers, could announce the job cuts this quarter. Sun, which reports earnings on Thursday, was not immediately available for comment.

Milunovich is not the only Wall Street expecting headcount cuts at Sun.

Sanford C. Bernstein analyst Toni Sacconaghi on Monday said that he expects Sun to cut between 4,000 to 8,000 people, which would put it in line with other cuts at large computer hardware companies.

EMC Corp. (NYSE:EMC - news), the No. 1 data storage machine maker, announced a second round of job cuts recently.

Last week, Sun Chief Executive Scott McNealy told Reuters that the company would consider job cuts if the company did not return to consistent profitability.

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