Adobe To Cut 600 Jobs
By Anna Johnson on December 5th, 2008Adobe announced on Wednesday that it will cut 600 full-time jobs – about 8 percent of its workforce. The company made the announcement as it forecasted lower than expected revenues for the quarter.
Adobe expects fourth quarter revenue to range between $912 to $915 million, lower than its previous prediction of $925 to $955 million.
According to Adobe CEO Shantanu Narayen, the lower numbers are due to weaker than expected demand for Adobe Creative Suite 4, which in turn, is largely due to the economic downturn.
Source: Larry Dignan, “Adobe lays off 600 workers, CS4 demand weaker than expected,” ZDNet, December 3, 2008
