Adobe To Cut 600 Jobs, Focus More On Web Video
Adobe (NSDQ: ADBE) is cutting about 600 jobs, or 8 percent of its workforce, citing the economic slowdown. Sales for its Creative Suite 4 package, which includes the popular Photoshop, has been much slower than expected, the company said. And these cuts, which are across the board, will help it better focus on its growing online video (through Flash, the default online video standard now) and online software business, CEO Shantanu Narayen said, according to WSJ.
The company said it will record $44 million to $50 million in charges related to the headcount reduction. More details in release.
Dec 4, 2008 12:31 AM ET
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Comments (2)
Dec 4, 2008 12:29 PM
That’s a shame to hear. So many people are losing jobs right now, and jobs are not easy to find either. I am fortunate to have a job right now and can’t imagine what would happen if I got laid off. It’s tragic.
Dec 10, 2008 1:44 PM
How about their execs take a dollar a year pay cut and fix the mess they all created? Or better yet, fire the execs…all of them, and keep the people (engineers, sales staff) that know what they are doing around, to create the products that make the company what it is, today and hire new blood. it is definately needed around Adobe.