Printer Friendly

Adobe cutting 680 jobs.

Summary: WASHINGTON- 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.

Copyright 2009 Khaleej Times. All Rights Reserved.

Provided by Syndigate.info an Albawaba.com company
COPYRIGHT 2009 Al Bawaba (Middle East) Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2009 Gale, Cengage Learning. All rights reserved.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Khaleej Times (Dubai, United Arab Emirates)
Date:Nov 12, 2009
Words:149
Previous Article:APEC warned to fight protectionism.
Next Article:Heart of the Matter.
Topics:


Related Articles
Tech Round Up: Apple upgrade terminates Hackintoshes, Adobe layoffs 680, Google, Yahoo offers free WiFi.
Adobe Systems to layoff 680 jobs: Report.

Terms of use | Copyright © 2015 Farlex, Inc. | Feedback | For webmasters