The company would not reveal how many local jobs will be axed as part of the global restructure plan triggered by the economic crisis.

According to a Sun spokesperson, the employment restructure will cost it about $600 million over the next year.

“We believe the number of positions that will be eliminated, when combined with the other cost cutting measures and organisational changes being implemented, will put the company on track for sustained profitability and improved financial performance,” the spokesperson said in a written statement.

“Sun expects to begin realising cost savings in the third quarter of the company's fiscal year 2009, and expects to realise a substantial portion of the run rate benefit by the first quarter of the next fiscal year.”

The restructure is estimated to save up to $800 million a year. Sun will have about 28,000 staff after the restructure.