Feeds

Adobe slips good-bye note to 10% of stafff

Tough times at top employer

Boost IT visibility and business value

Adobe Systems, reckoned to be one of the best US employers to work for by business suck-up mag Fortune, is cutting 10 per cent of its staff.

The company said Tuesday that it's eliminating 680 of its just-over 7,000-strong workforce as part of a restructuring, which will cost between $65.0 and $71.0 million. Employee severance will cost Adobe the greater part of that, between $48.0 and $52.0m.

Adobe's cuts and restructuring are not connected with the $1.8bn purchase of online analytics and consultant specialist Omniture announced last month, it said.

The cuts come as Adobe said last month that it expects to announce fourth-quarter revenues sharply down from last years' record high and more or less flat compared to the recent third quarter.

Next month, Adobe is expected to announce revenue numbers that are down between 19 and 24 per cent compared to last year's $915m. In the third quarter, Adobe announced revenue of $697.5m, also down significantly from the previous year. Adobe's fourth quarter is expected to close November 28. Reading between the lines, you can bet Adobe came in at the low end of its expectations. ®

Boost IT visibility and business value

More from The Register

next story
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Amazon says Hachette should lower ebook prices, pay authors more
Oh yeah ... and a 30% cut for Amazon to seal the deal
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Feel free to BONK on the TUBE, says Transport for London
Plus: Almost NOBODY uses pay-by-bonk on buses - Visa
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Backing up Big Data
Solving backup challenges and “protect everything from everywhere,” as we move into the era of big data management and the adoption of BYOD.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.