Business software company CA Inc. is cutting 1,000 jobs and is consolidating an unspecified number of facilities as part of a restructuring plan to reduce costs and become more efficient.
The job cuts represent about 8 percent of its work force.
The Islandia, N.Y., company also says full-year earnings will come in at the lower end of the range it had previously given.
Its shares fell 5 percent to $22.62 in morning trading.
The company said in a filing Tuesday with the Securities and Exchange Commission that it expects to incur a $50 million pre-tax charge as a result of the cuts, with $47 million for severance payments and the rest related to facility closings.
© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.