BMC Software Inc. (NASDAQ:BMC) will cut jobs

Boston, MA 04/09/2013 (wallstreetpr) – A maker of the software BMC Software Inc. (NASDAQ:BMC) (current: $44.45) which is a leader manager of the corporate computer networks said that it has plans to cut some jobs after a big review of its operations resulting in the pretax charges of about 33 million dollars to 38 million dollars. The costs of the termination and the severance will be recorded mostly in the quarters which will end in the month of the march and the current period. This was being said by the Houston based company during a regulatory filing yesterday. But it was not specified that how many jobs will be cut off. The company said that the cuts will generally come from business units and the functions of the corporate across the geographies. According to a filing of the BMC, it has about 6900 full – time employees as of March 31 2012.

The company is the major one which sells various software which lets the information technology departments better manage the fleets of the servers and the mainframes which is used to configure new machines and bring some updates to the older ones. In one of the separate filings, activist investor Eliott Associates LP said that it has some standstill agreement with BMC Software Inc. (NASDAQ:BMC)which has ended on April 6, and the firm also reserves some rights so as to do further talks with the company which makes the software. BMC is facing a lot of pressure from this Eliott since last year. It was pressurized to consider a sale and even it had to add two directors in July which was being chosen by the Eliott. According to some of the data compiled by the Bloomberg, Eliott is one of the second largest shareholders of BMC Software Inc. (NASDAQ:BMC) with about a 9.6 percent stake. So let us see what Eliott could do this time so as to save the jobs.

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Published by Steve Hackney

Steve Hackney is a corporate finance professional with over 14 years of experience in cash management and investing. He earned a Bachelor of Science in Finance from Florida State University and holds a Certified Treasury Professional certification. Steve lives in Orlando, Florida with his family.