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Sun Microsystems To Cut 3,000 Jobs As Oracle Deal Drags On
afgun writes with news that Sun will be shedding 3,000 jobs, roughly 10% of their workforce, as they continue to lose money while waiting for EC regulators to approve their acquisition by Oracle. "Oracle Chief Executive Officer Larry Ellison said Sept. 22 that Sun is losing about $100 million a month as the transaction is delayed by the EU probe." James Staten, an analyst with Forrester, said, "The longer a cloud of uncertainty hangs over Sun, that drives customers into delays of purchases or into the hands of competitors. This is a very trying time for Sun and Oracle as they wait for an answer." A spokesman for EU Competition Comissioner Neelie Kroes said today that she "expressed her disappointment that Oracle failed to produce, despite repeated requests, either hard evidence that there were no competition problems or a proposal for a remedy to the competition concerns identified by the commission," and that "a rapid solution lies in Oracle's hands."
It is the EU job to keep down all those awful American Based Companies. If these companies had a strong European presence do you think they would be as hard on them. Probably not.
If something is so important that you feel the need to post it on the internet... It probably isn't that important.
Did the US regulators have similar concerns? If not, why not?
Because apparently, our government is beholden to business and business only and is corrupt as hell as well, and Europe's governments aren't?
To me it seems a bit "convenient" that, in an economy where many jobs have to be lost anyhow (and as a merger is occurring, which may also naturally lead to job losses) people are blaming job losses solely on the regulators doing their jobs and not on sharp practice, opportunism or plain lack of co-operation from large multinationals operating in a cutthroat market.
Amen to that.
Free Martian Whores!
Oh bullshit. There is no monopoly in the database market, there isn't even a duopoly. This whole thing is ridiculous and the US needs to take action. Fuck those EU bureaucrats.