Menu
Adobe laying off 680 staff to cut costs

Adobe laying off 680 staff to cut costs

Adobe Systems will lay off 680 staff, or nine percent of its workforce, in its latest move to cut costs, the company confirms.

The job cuts will be made worldwide and are designed to bring Adobe's costs in line with its 2010 budget and "the realities of the business environment," the company says.

Adobe has reduced the workforce at Omniture, which it has just acquired, by 9 percent at the close of that acquisition, a spokeswoman says.

Messages about the layoffs have already started appearing on Twitter.

Adobe announced a previous round of layoffs last December, when it said it would cut 600 jobs worldwide to reduce costs. It said the recession had been causing slow sales of its Creative Suite 4 software, which it launched last October.

Its business has continued to lag this year, even as its stock price rose along with the broader market. In September the company posted third-quarter profits of US$136 million, down from $191.6 million in the third quarter of 2008. Revenue also fell, to $697.5 million from $887.3 million a year earlier.

This latest restructuring will result in pretax charges of $65 million to $71 million, including about $50 million for severance payments and $18 million to consolidate leased facilities, the company says.


Follow Us

Join the newsletter!

Error: Please check your email address.

Tags adobeinternational news

Featured

Slideshows

Channel celebrates as HP marks 50 years in NZ

Channel celebrates as HP marks 50 years in NZ

HP marked 50 years in New Zealand at an event in the vendor's Auckland's headquarters last night, with a host of key channel figures coming along to celebrate. Photos by HP.

Channel celebrates as HP marks 50 years in NZ
EDGE 2017 - Icebreaker Sessions round 2

EDGE 2017 - Icebreaker Sessions round 2

EDGE guests experience the value of networking at the second round of Icebreaker sessions.. Photos by Maria Stefina

EDGE 2017 - Icebreaker Sessions round 2
Show Comments