BMC Software ( BMC) previewed a fourth-quarter earnings and revenue shortfall Monday and set plans to cut about 12% of its global workforce.

The enterprise management software maker expects to earn 8 cents to 12 cents a share before items on revenue of $388 million to $400 million in the quarter ended March 31. Those are both below previous estimates for earnings of 17 cents to 22 cents a share on revenue of $410 million to $425 million.

Analysts surveyed by Thomson First Call were forecasting earnings of 21 cents a share on sales of $416.4 million.

Simultaneous with the profit warning, BMC said it plans to cut 825 to 875 employees, or about 12% of its global workforce. The company is targeting $100 million of annualized savings from the cuts when they're combined with the "increased investment in growth areas."

"We have realigned to increase investment in our service management growth business, maintain profitability in our mainframe business and make the necessary reductions to improve profitability in our distributed systems management business," the company said.

BMC estimated the steps will enable it to achieve operating margin excluding special items of at least 15% in 2006. The company will take a $50 million to $60 million charge, mostly in the first quarter, on the reductions.