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

Meet the top performing HP partners in NZ

Meet the top performing HP partners in NZ

HP honoured leading partners across the channel at the Partner Awards 2017 in New Zealand, recognising excellence across the entire print and personal systems portfolio.

Meet the top performing HP partners in NZ
Tech industry comes together as Lexel celebrates turning 30

Tech industry comes together as Lexel celebrates turning 30

Leading figures within the technology industry across New Zealand came together to celebrate 30 years of success for Lexel Systems, at a milestone birthday occasion at St Matthews in the City.​

Tech industry comes together as Lexel celebrates turning 30
HP re-imagines education through Auckland event launch

HP re-imagines education through Auckland event launch

HP New Zealand held an inaugural Evolve Education event at Aotea Centre in Auckland, welcoming over 70 principals, teachers and education experts to explore ways of shaping and enhancing learning using technology.

HP re-imagines education through Auckland event launch
Show Comments