Sun Microsystems Cutting 3,000 Jobs

Sun Microsystems announced that it is cutting 3,000 jobs, or about 10% of its workforce. The cuts are necessary, the company says, because of losses it is incurring while waiting for European regulators to approve its purchase by Oracle. However, Sun has been laying workers off slowly over the last several years, and wider job cuts are expected after Oracle completes the purchase.

Originally, the deal was expected to be finalized over the summer, but it has been held up by European regulators who are taking a closer look at the impact of Oracle purchasing MySql, which is currently owned by Sun.