http://www.macnn.com/articles/01/10/31/adobe.cuts/
Adobe cuts earnings forecasts, 150 jobs
updated 09:50 am EST, Wed October 31, 2001
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Adobe yesterday announced that its fourth-quarter and 2002 earnings will be below previous estimates and said it plans to cut 150 jobs, or 5% of its workforce. For the fourth quarter ending Nov. 30, Adobe expects to earn 20 to 22 cents a share, below the consensus forecast of 26 cents. It also said that it expects to earn $1.03 a share on revenue of $1.3 billion during 2002, while analysts had been expecting earnings of $1.22 a share.
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What is Adobe doing?
NPR stated the loss of 150 jobs (5%). The also stated that they did not go ahead with the ground breaking of a new tower today. BUT they are going ahead with it.
That makes a lot of sense. Fire your manpower to build a new facility.
Also why don't they get off their butts and get Photoshop for OS X out there. They were boasting about it for two years. This year it's mum. Bury the hatchet with Apple on iPhoto and get Photoshop out the door.
They're shooting themeselves in the foot. And giving maketshare in the font management area to Suitcase.
Honestly I don't feel that they're very solid at present. And even shakier with the new management in place.