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Adobe announces 680 layoffs

by Sylvie Barak on 11 November 2009, 09:20

Tags: Adobe (NASDAQ:ADBE)

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Gone in a flash

Adobe systems announced Tuesday it would be making 680 employees redundant, in a move which slashes about nine per cent of the firm's global workforce.

The creator of Flash, Photoshop, Acrobat and Illustrator said these latest cuts would affect all businesses, geographies and job levels, with around 300 San Francisco Bay Area employees receiving their pink slips.

San Jose based Adobe already laid off 600 workers last December, which at the time represented eight per cent of the firms now 7,500 strong workforce.

In a regulatory filing with the Securities and Exchange Commission (SEC), Adobe, which has been suffering from falling demand for its software from advertisers, said the layoffs would probably cause between 65 and 71 million dollars in pretax restructuring charges.

Just last month the firm announced the release of its Flash 10.1 software.

Adobe spokespeople were quick to point out these latest cutbacks would not affect the 1,200 employees of recently acquired Web analytics firm Omniture, which went through its own nine per cent head count reduction earlier this year. Adobe paid $1.8 billion for the firm.

Despite the announcement, Adobe shares were up a bit today, trading 0.14 percent higher at $36.65 in after-hours trading.



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