Oracle Corp. President Safra Catz met with European Union Competition Commissioner Neelie Kroes today in an unsuccessful effort to break the logjam holding up her company’s acquisition of Sun Microsystems, the commission reported today.
The meeting follows by a day news that Sun plans to lay off as many as 3,000 workers, or 10% of its workforce, over the next 12 months in the face of the delays in Oracle’s takeover.
In an 8-K filing with the Securities and Exchange Commission Tuesday, Sun, a purveyor of the MySQL open source database technology, the Java programming language, the Solaris operating system, servers, and other technology, cited the acquisition delay in its decision to restructure the company. Sun said it “expects to incur charges ranging from $75 million to $125 million over the next several quarters in connection with the restructuring plan, the majority of which relates to cash severance costs.”
The personnel cuts will take place “across the North America, EMEA, APAC, and emerging markets regions,” according to Sun’s filing.