Server and software maker Sun Microsystems Inc. said Tuesday it expects to record charges of between $130 million and $220 million over the next several quarters as a result of job cuts and other restructuring efforts.
In a filing with the Securities and Exchange Commission, the Santa Clara, Calif.-based company said the majority of the charges will come from cash severance costs and be incurred in the first half of fiscal 2009.
Last Thursday, Sun revealed plans to cut between 1,500 and 2,500 jobs, as it reported a loss in the fiscal third quarter and forecast flat revenue for the fourth quarter.
Shares added 1 cent to close at $12.98.
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