Thursday, December 4, 2008

Adobe Cuts 600 Jobs

San Jose-based graphics software maker Adobe Systems said late Wednesday that the firm is cutting 600 jobs, as the firm saw weaker-than-expected demand for its Creative Suite 4 products. According to Adobe, the 600 full time positions will result in a charge of $44 to $50M, as the global economic crisis "significantly impacted" the firm's revenues during the fourth quarter. The firm said the moves are a part of an action to reduce the firm's operating costs and "fine-tune" its resources.