Adobe Giving Pink Slips to 600 Employees

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Adobe Systems Inc has announced the implementation of a restructuring program, and said it has taken steps to reduce its headcount by approximately 600 full-time positions globally.

The restructuring is expected to result in pre-tax charges totaling approximately $44 million to $50 million. Adobe expects approximately $28 million to $30 million of the restructuring charges to be recorded in the fourth quarter of fiscal year 2008.

For Q4 2008 though, Adobe believes it will achieve fourth quarter fiscal 2008 revenue in the range of $912 million to $915 million. The company also believes it will achieve GAAP diluted earnings per share in the range of $0.45 to $0.46, and non-GAAP diluted earnings per share in the range of $0.59 to $0.60.


Published by Chris Malinao

Chris teaches Lightroom as workflow software to photography students at the FPPF, Federation of Philippine Photographers Foundation. He also teaches smartphone photography.