CA plans to cut 1700 jobs

Business software maker CA [formerly Computer Associates] said that it would cut 1,700 jobs, or 10.5% of its workforce. Half the job cuts would be in North America. The company also reported that its first quarter net income fell 64% as expenses rose.

CA is trying to recover from accounting scandals, years of losses and the departure of executives. The latest earnings report came after two rough quarters for CA as it lost its chief operating officer, chief financial offer and chief technology officer. It has also watched former CEO Sanjay Kumar plead guilty to fraud and other charges stemming from a $2.2 billion accounting scandal.

(2006-08-15 12:50:05 SGT) [Biz] Permalink

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