toggle

AAPL Stock: 94.72 ( + 0.78 )

Printed from http://www.macnn.com

Adobe to eliminate over 10 percent of workforce

updated 08:00 pm EST, Tue November 8, 2011

Will 'restructure' business around digital media

Despite the fact that Adobe is expected to bring in record revenue in the fourth quarter of 2011, it has announced plans to eliminate 750 full-time positions, just under 11 percent of its employees, primarily in North America and Europe. The move is part of a "restructuring" of its business around "explosive growth categories" in its Digital Media and Digital Marketing products. Adobe has cut about 2,150 jobs in total since 2008, bringing it to just over 6,400 employees.

In 2008, the company blamed the global economic recession for a cut of 600 jobs (then about nine percent of its workforce), but went on to phase out 680 jobs in late 2009, and eliminate about 120 jobs from its acquisition of Omniture that same year. The new cuts will cost the company approximately 87 to 94 million dollars in pre-tax charges, according to documents filed with the SEC.
The company has been busy acquiring companies, including HTML5 mobile app developers Nitobi and TypeKit along with video web ad company Auditude and electronic contract and signature developer EchoSign. Adobe President and CEO Shantun Narayen says Adobe is "doubling down" on the Digital Media and Digital Marketing categories -- including reducing some enterprise solution product lines in favor of new subscription products in its Digital Marketing department, including its online ad testing service Adthenticate.

Adobe continues to expect to top $1 billion in revenue for the fourth quarter of 2011, which ends for the company on December 2nd, and which may top $1.125 billion. The company will webcast its financial results and analyst meeting tomorrow, November 9th, at 10 a.m. Eastern Time.




by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

  1. revco

    Joined: Dec 1969

    +1

    webcast

    >>The company will webcast its financial results and analyst meeting tomorrow…

    Curious to see if it'll be a Flash or HTML5 webcast.

  1. The Vicar

    Joined: Dec 1969

    +2

    Yep...

    This is what they're doing while claiming they don't have the labor to improve Flash performance on the Mac or update Photoshop to Cocoa. IBM does this same shtick. Say what you will about Microsoft, but they and Apple don't play this particular game (although there are others which are just as offensive).

  1. rvhernandez

    Joined: Dec 1969

    +7

    Dear Adobe,

    Dear Adobe,
    Instead of wasting money on marketing and sales, figuring out new schemes to get us to constantly pay you money every month (or year) for your software, how about just making software that doesn't suck?
    That's what I would like for the new year,
    Thanks.

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

MacNN Sponsor

Recent Reviews

Razer Kraken Pro headset

Gaming headphones are a challenge to get right, for a long list of reasons that are unique to the consumer buying them. Some shoppers ...

Patriot Aero Wireless Mobile Drive

Regardless of how large a tablet you buy, you always want more space. There's always one more movie or another album you'd cram on, ...

Patriot Fuel+ 6000 and 9000mAh batteries

Mobile device batteries are better than they used to be, but there's always a scenario where users could use more juice. Upgrade manu ...

toggle

Most Commented