Adobe plans to cut 9% of its employees
Adobe Systems plans to reduce 680 employees, or about 9 percent of the total number of employees, as the company is trying to cut costs due to declining sales.
The dismissal, which was registered with the US Securities and Exchange Commission, is the second wave of cuts for the current year. In December, the company said it was laying off about 600 employees because demand for the Creative Suite 4 product line was less than expected.
The reduction will only affect those employees who worked at Adobe before it acquired Omniture, a web analytics company, in September for $ 1.8 billion. They are separate from the reduced 9 percent of Omniture’s employees, about 1,200 employees at the time of the acquisition.
Adobe, which is well known for its Photoshop and Illustrator products, said it plans to save between $ 65 million and $ 71 million from restructuring.
“Adobe is rebuilding its business to bring spending in 2010 according to the financial plan, as well as follow strategic priorities for three years and the realities of the business environment, as well as to ensure the ability to continue investing with long-term growth opportunities,” the official statement from Adobe said. .
In September, Adobe reported that its third-quarter financial earnings fell 29 percent due to lower sales.