Feeds

Adobe slips good-bye note to 10% of stafff

Tough times at top employer

Bridging the IT gap between rising business demands and ageing tools

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. ®

Application security programs and practises

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
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
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
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.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.