Daily Recession covers the world as it goes into recession. The financial crisis, stock market crash, bankruptcies, job cuts, and the turmoil that follows.

CA Tech profit up, but 500 layoffs planned

Posted: July 23rd, 2011 | Author: | Filed under: By Location, USA | Tags: | No Comments »

CA Technologies’ latest earnings report had some good news for investors but some not-so-good news for employees.

Revenue and net income rose in its fiscal first quarter, but the company plans to cut up to 500 jobs, the Islandia-based software company announced after the stock markets closed.

CA’s revenue rose 9 percent to $1.16 billion in the three-month period that ended…

From: Newsday

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