Adobe trimming Expo budget, 600 jobs [updated]
The bad news might not end there: A tipster with purported connections inside Adobe told us that the company is
considering laying off a significant fraction of its nearly 7,000 employees, including management.
- Update 4 p.m.: The axe fell a few hours ago at Adobe, according to
twothree former employees, but we don't know how widespread the damage is.
- Update 5 p.m.: Mike Downey, principal evangelist for the Flash, Flex and AIR products is "no longer with Adobe."
- Update 5:10 p.m.: Adobe issued a press release: "Adobe also announced the implementation of a restructuring program, and has taken steps to reduce its headcount by approximately 600 full-time positions globally. The restructuring will result in anticipated pre-tax charges totaling approximately $44 million to $50 million. The Company expects approximately $28 million to $30 million of the restructuring charges to be recorded in the fourth quarter of fiscal year 2008." Read the full press release here.
This points to some serious, knee-jerk cost-cutting at Adobe, since Macworld Expo has been so valuable to Adobe's relationship with the Mac user base in the past.
"Adobe has decided to shift its focus at the Macworld trade show this year," the company said in a statement given to Macworld magazine. "Macworld [Expo] is a valuable industry show and we will still be an active part of it with members of our product team involved in Macworld tracks, including a full day of CS4 demo sessions with Adobe evangelists on Wednesday, January 7."
Adobe Creative Suite 4 was released in October.
[Via O'Grady's PowerPage.]
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