Linked by Thom Holwerda on Fri 14th Nov 2008 21:38 UTC, submitted by pantheraleo
Oracle and SUN The world hasn't been kind to Sun for quite a while now, but with the economic downturn, things are getting worse. Sun announced today that it will be laying off 18% of its workforce, or about 6000 people. In addition, it was announced that Sun's software chief Rich Green has resigned for reasons that were not stated, although as part of Sun's reorganization and cost cutting efforts, many departments are being merged, and the software division is being restructured and reorganized.
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Worthless?
by tony on Fri 14th Nov 2008 23:51 UTC
tony
Member since:
2005-07-06

Here's an interesting factoid: Sun's current market cap is about $3 Billion. Sun's cash on hand is roughly $3 Billion, so basically Wall Street thinks that Sun is essentially worthless. Granted, the market is pretty bonkers right now, but with some activist investors buying up shares, I would imagine they're going to force a change in management.

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