Server and network computing company Sun Microsystems (SUNW) said in a regulatory filing Tuesday it plans to cut its staff by 3,000 employees due to delays in its acquisition of Oracle (ORCL).

The company is waiting for European regulatory approval before it can be acquired by Oracle, which struck a $7 billion deal to take over Sun Microsystems last April, in a merger that has been held up by European antitrust regulators.

Sun Microsystems said it will be forced to take charges between $75 million and $125 million in the next few quarters in order to pay severance costs and to proceed with its restructuring plan, it said in its filing with the Securities and Exchange Commission.

Shares of Sun Microsystems fell 10 cents or 1.10% to $9.01 per share in Tuesday’s session.