IT Software Vendor, CA, to Cut 1,000 Jobs

A recent filing with the Securities and Exchange Commission revealed CA's plans to restructure and lay off roughly eight percent of its workforce. CA says the layoffs are part of its Fiscal 2010 Restructuring Plan and added that it will also be closing some of its facilities as part of the plan.

"These actions are intended to better align the company's cost structure with the skills and resources required to more effectively pursue opportunities in the marketplace and execute the company's long-term growth strategy," CA said Tuesday.

The software vendor said actions listed as part of the Fiscal 2010 Restructuring Plan are expected to be mostly completed by the end of the second quarter of fiscal 2011. As a result of the layoffs, the company expects to incur a pre-tax restructuring charge of approximately $50 million. This includes severance costs of about $47 million and global facilities consolidation costs of approximately $3 million.

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  • curnel_D
    webbwbbIf they are spending $43 million on severance packages for 1,000 people that averages to $43,000 per person. I highly doubt that is for "call center grunts". It sounds closer to senior engineers.

    Or rather 5-10 Sr. board members/engineers who have offered to go under the ax for 2-3 million. And then another 990 call center dudes who will be lucky to get a CA coffee mug and a keychain out of the deal.
    16
  • Other Comments
  • Jerky_san
    Guess so much for those job postings that sky rocketed the stock market.. Oh wait the stock market only seems to jump at good news and avoids bad..
    3
  • curnel_D
    I'd imagine the first to go are call center grunts; guys who can barely manage to hold a phone and read directions off a computer screen at the same time. So I doubt it'll do much damage to the already failing IT job market.
    9
  • webbwbb
    If they are spending $43 million on severance packages for 1,000 people that averages to $43,000 per person. I highly doubt that is for "call center grunts". It sounds closer to senior engineers.
    4