CA cutting 1000 jobs
- 07 April, 2010 05:06
CA is planning to cut about 1000 jobs, or roughly 7.7 percent of its workforce, according to a document filed Tuesday with the US Securities & Exchange Commission.
The plan will also involve the consolidation of facilities. CA will incur a pre-tax restructuring charge of about US$50 million in severance and other expenses, according to the filing.
The vendor also said its fiscal 2010 earnings would fall at the low end of a previously released range of $1.46 to $1.57 per share.
CA competes with BMC, IBM and Hewlett-Packard in the IT management software arena.
The cost-cutting moves announced Tuesday follow a number of acquisitions by CA in recent months, including a US$350 million deal to buy IT performance monitoring vendor Nimsoft, which was announced in March.
Shares of CA's stock were down $1.29 to $22.56 in early trading Tuesday.