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Written by Peter Scott
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Friday, 05 December 2008 09:23 |
Creative soup
Graphics software giant Adobe is to cut 600 jobs, about eight percent of its workforce.
The move comes after the company posted lower Q4 results than expected, blaming low demand and the economic slowdown for weak software sales.
“The global economic crisis significantly impacted our revenue during the fourth quarter,” said Shantanu Narayen, president and chief executive officer. “We have taken action to reduce our operating costs and fine-tune the focus of our resources on key strategic priorities.”
Adobe's expected Q4 revenue will range from $912 million to $915 million, down from previously estimated $925 million to $955 million.
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