Sun Microsystems plans 6,000 job cuts

AUSTIN (KXAN) - Sun Microsystems plans to cut 18 percent of its work force, eliminating 6,000 jobs. The high-end computer-maker is restructuring as it deals with declining demand. The Santa Clara, Calif.-based company said the restructuring will save between $700- and $800 million over the next 12 months.

Sun Microsystems has a building off of Riata Park Court in Austin. According to paperwork the company filled with the Texas Workforce Commission, three employees in Austin will be cut in January. That same month, six will be cut in Houston, and 14 in Dallas will also lose their jobs.

Sun's shares have continued to decline, falling drastically and impacting the company's market value. The company has previously made multiple attempts at restructuring after eight years of severe financial problems.