Oracle Corp, the software maker that has digested more than $34.5 billion in acquisitions since 2005, needs to cut thousands of jobs to achieve the profit projected from its Sun Microsystems Inc takeover, analysts say.
Oracle President Safra Catz said the purchase would yield more profit in its first year than those of PeopleSoft Inc, Siebel Systems Inc and BEA Systems Inc combined.
Oracle will have to trim at least 5,000 jobs, mainly in the declining hardware division, according to Mark Demos, a portfolio manager at Fifth Third Asset Management.
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Wednesday, April 22, 2009
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