You can now read 5 articles in a month for free on BostonGlobe.com. Read as much as you want anywhere and anytime for just 99¢.

VMware cutting jobs, lowers forecast

PALO ALTO, Calif. — VMware Inc. said Monday that it is cutting 900 jobs, or nearly 7 percent of its workforce, and expects revenue to fall short of Wall Street’s expectations for the current quarter.

The software company, which is majority owned by EMC Corp. of Hopkinton, Mass., also said it plans to exit some lines of business and consolidate facilities. Cost of the job cuts and business changes is expected to be between $90 million and $110 million.

Continue reading below

Its stock tumbled $14.58, or 14.8 percent, to $83.74 in after-hours trading.

VMware expects revenue of $1.17 billion to $1.19 billion for the first quarter. Analysts polled by FactSet forecast $1.25 billion.

For the final quarter of 2012, VMware earned $205.8 million, or 47 cents per share. That’s up from $200.4 million, or 46 cents per share, in the same period a year earlier.

Adjusted earnings were 81 cents per share in the recent quarter, beating the 78 cents that analysts expected.

Loading comments...
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com
Already a subscriber?
Your city. Your stories. Your Globe.
Yours FREE for two weeks.
Enjoy free unlimited access to Globe.com for the next two weeks.
Limited time only - No credit card required!
BostonGlobe.com complimentary digital access has been provided to you, without a subscription, for free starting today and ending in 14 days. After the free trial period, your free BostonGlobe.com digital access will stop immediately unless you sign up for BostonGlobe.com digital subscription. Current print and digital subscribers are not eligible for the free trial.
Thanks & Welcome to Globe.com
You now have unlimited access for the next two weeks.
BostonGlobe.com complimentary digital access has been provided to you, without a subscription, for free starting today and ending in 14 days. After the free trial period, your free BostonGlobe.com digital access will stop immediately unless you sign up for BostonGlobe.com digital subscription. Current print and digital subscribers are not eligible for the free trial.