Adobe added its name today to the list of companies warning of weaker sales and are therefor cutting jobs.
“The global economic crisis significantly impacted our revenue during the fourth quarter,” said Shantanu Narayen, president and chief executive officer of Adobe. “We have taken action to reduce our operating costs and fine-tune the focus of our resources on key strategic priorities.”
Adobe cited weaker-than-expected demand for its new Creative Suite 4 family of products that began shipping in Q4 in North America and Europe as the main cause for the shortfall in fourth quarter revenue.
Adobe also announced the implementation of a restructuring program, and has taken steps to reduce its headcount by approximately 600 full-time positions globally.
Press release: Adobe Provides Preliminary Q4 Fiscal 2008 Results
Nutrox
It is a shame that Adobe is feeling the pinch but it isn’t surprising really. IMO the main cause of companies having to do this kind of thing are share holders, they aren’t happy if a company simply makes a profit, they expect a company to increase profits each quarter above and beyond inflation. That is completely stupid and inevitably ends up in job loses when a product such as Creative Suite 4 doesn’t do as well as expected, regardless of the economy. Greed once again raises it’s ugly head.
As long as the Flash Player, Flash, Flex Builder and Photoshop don’t suffer I will be happy though. The other products don’t really interest me and aren’t essential in my little coding world.
- 04 December 2008 07:03 PM
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hi
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