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Author Topic: Sun lays off 6000 workers - 18% of staff  (Read 3955 times)

Offline Paddy

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Sun lays off 6000 workers - 18% of staff
« on: November 14, 2008, 12:08:09 PM »
http://news.wired.com/dynamic/stories/S/SU...-11-14-10-01-16

QUOTE
The drastic move announced Friday highlights Sun's desperation to cut costs and survive as an independent company. Sun's shares have fallen so steeply they've crossed an ominous threshold, driving the company's market value below its cash on hand.

That means investors believe the company itself is essentially worthless. After eight years of devastating financial problems and multiple attempts at restructuring, Sun's latest woes have ramped up speculation that one of the most storied names in computing could be snapped up dirt-cheap by a bigger rival. Hewlett-Packard Co., IBM Corp., and Dell Inc. are all possible suitors.


Yikes.
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Offline Gregg

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Sun lays off 6000 workers - 18% of staff
« Reply #1 on: November 14, 2008, 04:04:20 PM »
I suppose Rev. Moon and Dancing with the Stars on Ice will be next...
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Offline kimmer

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Sun lays off 6000 workers - 18% of staff
« Reply #2 on: November 14, 2008, 07:27:49 PM »
Yikes, is right, Paddy.

It's gonna be a bumpy ride for a bit. All I / we can do is hang on tight and hope we don't get bounced off the track. wink.gif
« Last Edit: November 14, 2008, 08:47:02 PM by kimmer »
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Offline Xairbusdriver

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Sun lays off 6000 workers - 18% of staff
« Reply #3 on: November 14, 2008, 07:52:22 PM »
Of course, up there on the Northwest Coast, you'll be more comfortable with less Sun...
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Offline kimmer

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Sun lays off 6000 workers - 18% of staff
« Reply #4 on: November 14, 2008, 08:52:14 PM »
HA! Now, now ... we don't shrivel up and blow away when the sun comes out, but we sure do enjoy our rain. yes.gif
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Offline sandbox

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Sun lays off 6000 workers - 18% of staff
« Reply #5 on: November 14, 2008, 11:27:30 PM »
If Sun employees are anything like solar panels they could be instantly employed on roofs around the globe.  Devilish2.gif
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Offline jcarter

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Sun lays off 6000 workers - 18% of staff
« Reply #6 on: November 19, 2008, 08:27:41 PM »
Yes, my sister-in-law got layed off after almost 20 years with them. Not nice.
Jane
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Offline Paddy

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Sun lays off 6000 workers - 18% of staff
« Reply #7 on: November 19, 2008, 10:08:22 PM »
An engineer friend of ours in MA got laid off by them last year. Not so bad as it turned out - he's now working for company in China (he's originally from Taiwan and speaks Mandarin, Cantonese, Taiwanese and English, so he's a real asset) and he and his wife are quite enjoying the opportunity to live somewhere else. Their youngest just left home for college this fall - the timing was good for an adventure. I'm sure he's one of the lucky ones though.
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Offline jcarter

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Sun lays off 6000 workers - 18% of staff
« Reply #8 on: November 20, 2008, 07:03:17 AM »
My sister-in-law was pretty close to retirement anyway, so she wasnt really that upset.
She has moved in with her daughter's family and is taking care of their 3 babies while both parents work, and has rented her house out. Has 5 grandkids now, so she is happy with the situation.
But I could imagine the ripple effect across the nation(world)of this economic crash is not going to be nice for a whole lot of people.
Jane
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