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The Boston Globe

Business

Mass. Movers

VMware slumps on job cuts, sales forecast

VMware Inc. fell nearly 22 percent after the virtualization software and cloud-computing company said late Monday that it expects first-quarter revenue to come in lower than Wall Street analysts had forecast. The Palo Alto, Calif., company is also cutting 900 jobs, or about 7 percent of its workforce, and plans to exit some lines of business and consolidate facilities this year. The cost of the job cuts and business changes is estimated at $90 million to $110 million.

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