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Sun, too, with losses and layoffs

Sun, too, with losses and layoffs

Sun expects sales between 2.7 and 2.9 billion US dollars, resulting in a loss of 5 to 7 cents per share. Analysts had already assumed a loss of 4 cents per share.

As early as August 30, Sun had published a profit warning in which the expected sales of 3.7 billion US dollars were no longer achievable. The attacks on September 11th also contributed to the downward trend, according to CEO Scott McNealy. The planned restructuring of the group includes the layoff of 4,000 employees (9%) and the closure of some plants. For this purpose, 500 million US dollars are planned for the second quarter.