CA to cut 1,000 jobs


CA to cut 1,000 jobs

Antony Savvas

CA is reported to be considering axing a further 1,000 staff as part of its ongoing restructuring.

Last year, the company announced 800 redundancies to cut its operational costs and improve its bottom line.

While CA cuts jobs in North America and Europe, it has announced plans to increase the size of its product support and development centre in Hyderabad in India.

The company is also planning to carry out more mainframe software development work in Prague.

These changes have been announced alongside the company’s filing of its delayed fiscal 2006 financial report with the US Securities and Exchange Commission.

These results had been expected in May, but they were delayed after the company uncovered accounting errors.

The filing also saw CA restate its results for previous years. The problems related to the way stock options and sales commissions were accounted for, as well as how new software subscription revenue was recorded in the results.

For the year ended 31 March, CA reported final net profits of £90m on sales of £2.1bn. Last fiscal year, the company made a net profit of just £7m on sales of £1.9bn.

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