CA cutting 1,000 jobs

CA is planning to cut about 1,000 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.

Related Download
CanadianCIO Census 2016 Mapping Out the Innovation Agenda Sponsor: Cogeco Peer 1
CanadianCIO Census 2016 Mapping Out the Innovation Agenda
The CanadianCIO 2016 census will help you answer those questions and more. Based on detailed survey results from more than 100 senior technology leaders, the new report offers insights on issues ranging from stature and spend to challenges and the opportunities ahead.
Register Now