Some sad financial news about CA

Discussion created by ca.portal.admin on Apr 6, 2010
Latest reply on Apr 8, 2010 by ca.portal.admin
From the financial news:

CA to axe 1,000 jobs

Expects $50m in restructuring costs

CA is laying off 1,000 workers and expects to take a $50m hit
in pre-tax charges relating to the jobs cull.

The business software maker said in a US Securities and
Exchange Commission filing
today that its board had approved the painful company rejig
last week. The jobs will go by 2011.

The news sent CA shares down six per cent. The vendor said it
expected to cough up $47m in severance pay and a further $3m in
""global facilities consolidation costs"", which will mainly hit
CA's 2011 financial year.

""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,"" said CA.

The firm said it now expected full-year adjusted earnings per
share to be around the $1.60 mark, which is at the low end of
its previous outlook.

Shares in CA were trading at $22.96 before Wall Street opened
this morning.
They closed at $23.85 on Nasdaq yesterday. R

Linda J. Casey, PMP, CSM

Managing Member

Run Right, LLC
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Re: Some sad financial news about CA
"I think that article was from 2004.