By Aled Herbert, 1 August 2001 07:40
NEWS Sun Microsystems is slashing 300 jobs in an attempt to reduce costs after experiencing lower than expected sales. On 20 July the company reported a $1bn drop in fourth quarter sales, although for it recorded revenues of $18.25bn its fiscal year ending 30 June, up 16 per cent year-on-year. However, the leading seller of Unix servers saw its profits of $927m declined by almost half compared to the same period last year. The job cuts amount to less than one per cent of the company's global workforce. Sun competitor HP last week announced it was cutting 6,000 jobs or 6.4 per cent of its workforce as it attempted to deal with diminishing revenues brought on by the economic slowdown.
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