Analysts see layoffs at Sun
C|Net | at | by Mike
Sun Microsystems could cut as many as 8,000 jobs, according to Merrill Lynch. Such cuts would represent about 20 percent of the server giant's current work force of 39,400, Merrill Lynch analyst Steven Milunovich said in a research note Tuesday. Speculation about potential layoffs at Sun has swirled in recent days and is hitting a fever pitch ahead of the company's earnings report Thursday. Sun wasn't immediately available for comment.
Sun is expected to report a fiscal first quarter loss of 4 cents a share on revenue of $2.86 billion, according to First Call. Analysts have cut Sun's earnings targets, but some question whether the company can hurdle even a lowered bar.