Adobe to cut 260 jobs

Posted on Friday, October 25 2002 @ 5:27 CEST by Thomas De Maesschalck
Adobe the maker of Acrobat and PhotoShop software products said in a regulatory filing last week that it would take a $10 million to $14 million restructuring charge in its current fiscal fourth quarter ended November. Adobe said it would book the expense "in order to realign its resources to support its future business plans."

Adobe cut 247 jobs in the fourth quarter of fiscal 2001 and took a related charge of $12.1 million, according to regulatory filings.

The spokeswoman said Adobe employs about 3,500 people worldwide.

Thus far, Adobe has fared better than some of its Silicon Valley peers that have been slashing jobs in an effort to get costs in line with revenues that are slumping on still-weak corporate technology spending.
Read more @ Yahoo

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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