Getting your player ready...
SAN FRANCISCO — Sun Microsystems Inc. plans to cut up to 6,000 jobs, or 18 percent of its global workforce, as sales of its high-end computer servers have collapsed.
The move announced Friday highlights Sun’s desperation to cut costs and survive as an independent company.
Sun’s shares have fallen so steeply they have crossed an ominous threshold, driving the company’s market value below its cash on hand. That means investors think the company itself is essentially worthless.
Sun would not disclose how many of the job cuts will be in Colorado, where the company employs about 2,400 workers in Broomfield and Louisville.
The company had about 4,700 employees in Colorado after it completed its acquisition of Storage Technology Corp. in 2005.
