Open source software and server, Sun Microsystems, made the announcement that they will cut about 3,000 jobs over the next year. This number is about 10% of the company’s total 29,000 workers. Sun said this latest round of layoffs will affect all its major regions, including North America, Europe, Asia, and emerging markets.

The reason, according to the company’s regulatory filing released on Tuesday, is the delay in the pending acquisition by Oracle.

Earlier this year, Oracle has agreed to buy Sun. However, this deal was held back by European Union antitrust regulators who are probing on whether or not the acquisition would give Oracle a monopoly of database software. US regulators, on the other hand, already approved the deal.

Over the past year, Sun Microsystems already cut 6,000 jobs. This recent job cutting will cost Sun between $75 million and $125 million severance payments over the next several quarters.

Both Sun’s and Oracle’s shares fell by 1% in after hours trading.

(via CNN)