AM I NEXT? BROADCOM - CA TECHNOLOGIES

It should come as no surprise that San Jose, California-based Broadcom, the semiconductor chip manufacturer that acquired New York City, New York-based commercial software developer CA technologies on November 5, 2018, immediately announced the layoff of up to 2,000 CA employees days after the completion of the $18.9 billion acquisition. The layoffs mainly occurred in Islandia, New York and New York City.

Spouting the usual corporate platitudes, a Broadcom spokesperson noted, “As with any acquisition, we seek to align skills and resources to most effectively pursue today’s market opportunities. This inevitably requires reductions in select areas of the company. These are difficult but necessary decisions.”

My life in the IBM mainframe world was made immeasurably better with CA products, especially those involved with security, tape library management, and ad hoc reporting.

It can happen to anyone, anytime, anywhere ... are you wondering, Am I Next?

NO LOVE AT CA TECHNOLOGIES

According to documents filed with the SEC (Securities and Exchange Commission), New York-based CA Technologies (formerly known as Computer Associates) has announced a restructuring plan that will result in approximately 800 layoffs and some office closures.

FISCAL 2019 RESTRUCTURING CHARGE

On May 2, 2018, the Company's Board of Directors approved a restructuring plan ("Fiscal 2019 Plan") to better align its business priorities. 

The Fiscal 2019 Plan comprises the termination of approximately 800 employees and facility exits and consolidations. 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, which includes a particular focus on shifting more of the Company's business to a subscription-based model. 

Actions under the Fiscal 2019 Plan are expected to be substantially completed by the end of fiscal 2019. Under the Fiscal 2019 Plan, the Company expects to incur a pre-tax charge between approximately $140 million and $160 million (including severance costs between approximately $90 million and $100 million and facility exit and consolidation costs between approximately $50 million and $60 million). 

Are you asking yourself, Am I Next?