Adobe Systems to cut 9% of global workforce
Adobe Systems expects to cut 680 full-time employees, or about 9% of its workforce, as the result of lagging sales. The layoff was the second within a year and was disclosed in a regulatory filing with the Securities and Exchange Commission (SEC). In December of 2008, Adobe announced that it would cut 600 jobs as the result of lower-than-expected demand for its Creative Suite 4 products.
The job cuts will affect only those workers who were Adobe employees before the acquisition of the Web analytics firm Omniture in September, and are separate from an earlier-announced 9% workforce reduction within the Omniture unit.
Adobe expects to record roughly $65 million to $71 million in pretax restructuring charges. In September, Adobe reported a fiscal third-quarter profit decline of 29%.
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