IT Software Vendor, CA, to Cut 1,000 Jobs
Software management company CA will lay off 1,000 employees before the fall.
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.