December 3, 2008

Adobe cuts jobs, lowers revenue outlook

According to Reuters: “Adobe Systems Inc on Wednesday lowered is revenue outlook and said it will eliminate 600 jobs, or around 8 percent of its workforce, due to the weak economy, sending its stock down 7 percent in extended trading.

“The global economic crisis significantly impacted our revenue during the fourth quarter,” said Shantanu Narayen, the company’s chief executive, in a statement. “We have taken action to reduce our operating costs and fine-tune the focus of our resources on key strategic priorities.””

1 Comment »

  1. I was laid off after more than 15 years with Adobe. Loyalty is no longer rewarded I guess. And the pitiful severance package requires you to agree to the following (exact quote):

    “I agree that I will not, at any time in the future, make any disparaging statements about the Company, its products or its employees, unless such statements are made truthfully in response to a subpoena or other legal process.”

    Scrooge is well and alive at Adobe.

    Comment by Mark Yelka — December 17, 2008 @ 7:51 pm | Reply

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