Adobe cutting 680 jobs

November 10, 2009 Adobe Systems announced on Tuesday it was cutting some 680 jobs worldwide

Photograph of Adobe logo. Adobe Systems, known for its Photoshop editing program and Acrobat document software, announced on Tuesday it was cutting some 680 jobs worldwide, about nine percent of its workforce.

Adobe Systems, known for its Photoshop editing program and Acrobat document software, announced on Tuesday it was cutting some 680 jobs worldwide, about nine percent of its workforce.

Adobe, in a filing with the US Securities and Exchange Commission (SEC), said it would incur between 65 million dollars and 71 million dollars in restructuring charges because of the layoffs.

Adobe said the jobs being cut only involve employees who were with the San Jose, California-based company ahead of its October acquisition of Web analytics firm Omniture Inc.

Adobe, which employed 7,564 people worldwide at the end of August, also produces the Flash and Shockwave software used in many games and Internet applications.

Adobe shares were trading 0.14 percent higher at 36.65 dollars in after-hours electronic trading in New York.

Rate this story - 4 /5 (1 vote)

rank
1
2
3
4
5

view popular

Other News

Twitter buys Mixer Labs to map tweeting locations

Technology / Internet

15 minutes ago | not rated yet | 0

(AP) -- Twitter is buying a startup called Mixer Labs in an effort to pinpoint the locations of people posting short messages on its service.

Panasonic Develops High Energy Lithium-ion Battery Module with High Reliability

Panasonic plans home-use storage cell

Technology / Energy

18 hours ago | 4 / 5 (13) | 7

Panasonic Corp., which recently made a successful takeover bid for Sanyo Electric Co., plans to market a lithium-ion storage cell for home use around fiscal 2011.

The US Federal Trade Commission (FTC) building in Washington

FTC looking into Google's AdMob acquisition

Technology / Internet

10 hours ago | not rated yet | 0

Web search and advertising giant Google said Wednesday that the US Federal Trade Commission (FTC) is seeking more information about its proposed purchase of mobile advertising company AdMob.

heryl Sandberg, chief operating officer of Facebook, has been nominated to serve on the board of directors of Disney

Facebook COO nominated to Disney board

Technology / Business

8 hours ago | not rated yet | 0

The Walt Disney Co. said Wednesday that Sheryl Sandberg, chief operating officer of Facebook, has been nominated to serve on the board of directors of the US media and entertainment giant.

Understanding interaction in virtual worlds

Technology / Computer Sciences

15 hours ago | 2.7 / 5 (6) | 0

New cinema blockbuster, Avatar, leapt to the top of box office charts as soon as it came out — a stunning 3D realisation of an alien world. Our fascination with themes of escape to other fantastic places and the thrill of ...