Smart Women Finish Rich
Gilroy – Edward Jones presents Smart Women Finish Rich free seminar Thursday, June 22, from 11:30am to 1pm at the West Side Grill, 8080 Santa Teresa Blvd., Suite 100. All attendees will receive a free 24-page financial workbook to help organize their finances, and plan their values, goals and dreams. The RSVP deadline is Monday, June 12.
Details: Diane Green at 842-6943.
Sun plans to cut
up to 5,000 jobs
San Francisco – Computer server maker Sun Microsystems Inc., whose revenue has declined four years in a row, said Wednesday it planned to cut 4,000 to 5,000 jobs in an effort to return to consistent profitability.
The cuts, which will reduce Sun’s 37,500-person work force by 11 percent to 13 percent over the next six months, will cost Santa Clara-based Sun from $340 million to $500 million over the next several quarters, the company said.
Sun executives expect the plan, which also includes selling real estate and exiting leases, to save the company from $480 million to $590 million, once it is fully implemented sometime around June of next year.
The company, a major supplier of computer servers that run corporate networks and Web sites, was once a Wall Street darling but has struggled since the dot-com bubble burst in late 2000. Servers that run processors based on Intel Corp. designs and Microsoft Corp.’s Windows or the free Linux operating systems have grown increasingly powerful, often performing the same jobs at a fraction of the cost of Sun products.
Investors have driven down Sun shares from a high of about $64 in September of 2000 to a range of about $3.50 to $5 over the past year. Some analysts have criticized Sun’s management for not cutting costs more dramatically.
Send your upcoming business classes and briefs to Night City Editor Andi Joseph at aj*****@gi************.com
