BMC Software to Cut 7% of Workforce

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BMC Software

will cut 7% of its workforce and take a third-quarter charge as it tries to navigate economic uncertainty and difficult markets.

The Houston software maker will cut about 476 jobs worldwide and take a charge of $14 million to $18 million for severance costs.

About two weeks ago, the company reported second-quarter earnings of $6.9 million, or 3 cents a share, in line with analysts' lowered expectations.