Tags: US | TEC | CA | Restructuring

Business Software Maker CA to Cut 1,000 Jobs

Tuesday, 06 Apr 2010 10:33 AM


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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 This material may not be published, broadcast, rewritten or redistributed.

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