Yet another workforce reduction has been announced by another technology company. And this time its the turn of Sun Microsystems.
Sun Microsystem has announced that around 15-18 % of its workforce will be reduced and thereby job cuts for around 6,000 of its employees. They have also announced that they are restructuring their software operations.
The situation in the major companies in the middle of this credit crunch and financial crisis seems to be a very desperate move to cut spending in view of diminished projects and sales. This is causing panic among the other employees making them fear that they may be next in the list of job cuts.
The condition is getting worse each day as one by one many of the companies are announcing job layoffs and decreased profits if not in the verge of bankruptcy. The condition is still worse in the case of those looking for a job or waiting to join in one of these companies.
If the current situation does not improve in the forth coming months, I think many countries may face unemployment on a large scale.
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