CA Inc. to cut 1,000 jobs

By Julianne Pepitone, staff reporter


NEW YORK (CNNMoney.com) -- CA Inc., formerly Computer Associates, said in a regulatory filing that it will cut 1,000 jobs, or 7.5% of its workforce.

The company detailed its restructuring plan for fiscal 2010 in a Securities and Exchange Commission filing. The plan, which was approved March 31, also called for "additional global facilities consolidations," according to the filing. CA (CA) did not elaborate on those consolidations.

chart_ws_stock_cainc.03.png

Shares of the Islandia, N.Y.-based software company fell 4.8% shortly after the market opened.

In a memo to employees Tuesday, CA Chief Executive Bill McCracken said the job cuts will be mainly in North America, although all regions globally will be affected.

"These actions are necessary to focus our skills and investments on those activities that support our corporate strategy and have the greatest impact on our performance, growth and customer loyalty," he added.

CA said that the restructuring should be "substantially completed" by the close of the second quarter of fiscal 2011, which ends October 2010.

CA also said it expects to incur a pre-tax restructuring charge of about $50 million. Those expenses will affect both fourth-quarter and fiscal-2010 earnings, the company said, and results will likely be at the low end of previously issued guidance.

GAAP diluted earnings per share for the full fiscal 2010 year are now expected to be $1.46 to $1.57, while non-GAAP diluted earnings are predicted to be $1.60 to $1.71 per share.  To top of page

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 17,164.95 -251.90 -1.45%
Nasdaq 4,635.24 -48.17 -1.03%
S&P 500 1,994.99 -26.26 -1.30%
Treasuries 1.68 -0.08 -4.34%
Data as of 4:33am ET
Company Price Change % Change
Bank of America Corp... 15.15 -0.28 -1.81%
Apple Inc 117.16 -1.74 -1.46%
Microsoft Corp 40.40 -1.61 -3.83%
AT&T Inc 32.92 -0.04 -0.12%
General Electric Co 23.89 -0.19 -0.79%
Data as of Jan 30

Sections

Super Bowl ads are getting more expensive every year. But are companies wasting money? In the social media era, tweets and viral videos can also get a company noticed. More

Many in the middle class, particularly the single and the elderly, won't see any tax breaks under Obama's MIddle Class Economics plan More

Here's where Seahawks and Patriots fans eat, shop, and play, according to data from ad tech startup PlaceIQ. More

Wix is advertising in the Super Bowl -- but it's just the latest tech unknown to make its debut there. More

401(k) balances reached a record high last year, thanks to a soaring stock market and larger contributions from workers participating in the savings plans, according to Fidelity. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2015 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2015. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2015 and/or its affiliates.