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HP, Sun to Shut Down During July 4 Week

June 03, 2002|Bloomberg News

Hewlett-Packard Co. and Sun Microsystems Inc. will shut down during the week of July 4 to save money.

About 74,000 U.S. employees of Hewlett-Packard will be off work from June 30 to July 6, spokeswoman Judy Radlinsky said.

Hewlett-Packard previously has closed during economic slowdowns, she said. Sun, closing on the same days, also shut down for a week last year during the period, spokeswoman Diane Carlini said.

Both companies have reported declining sales in recent quarters as the computer industry has slowed. Hewlett-Packard is planning to fire 15,000 employees as it merges its businesses with those of Compaq Computer Corp., which it acquired for $18.9 billion on May 3.

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