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Business

CA to cut 1,000 jobs

Under a restructuring plan, the company will consolidate facilities after it projected lower fiscal year earnings
Written by Larry Dignan, Contributor on

CA said Tuesday that it will cut 1,000 jobs as it consolidates facilities under a restructuring plan. The company also said its earnings for the fiscal year will be at the low end of its previously issued outlook.

The company said in an SEC filing that it will take a charge of $50m (£33m), with $20m-$25m of that sum related to real estate and other costs.

CA's outlook called for non-GAAP earnings growth of seven percent to 15 percent, or $1.60 a share to $1.71 a share. Now CA will come in closer to that $1.60 a share mark. Wall Street was expecting CA to report earnings of $1.69 a share. GAAP earnings are expected to be $1.46 a share to $1.57 a share.

For more on this story, see CA to cut 1,000 jobs; Cuts profit outlook on ZDNet.com.

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