Adobe cutting 680 jobs.Summary: WASHINGTON- Adobe Systems Adobe Systems Incorporated (pronounced a-DOE-bee IPA: /əˈdoʊbiː/) (NASDAQ: ADBE) (LSE: ABS) is an American computer software company headquartered in San Jose, California, USA. , 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 San Jose, city, United States
San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , 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 New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of .
Copyright 2009 Khaleej Times. All Rights Reserved.
Provided by Syndigate.info an Albawaba.com company