What you will not see at next year's MacWorld Expo: an Adobe booth
Adobe warned today of a sales shortfall for the current quarter and announced a drastic restructuring program to reduce expenses; costing between $44 million to $50 million.
The San Jose, Calif., company will cut 600 jobs – about 8 percent of its workforce – and will not have a booth at the MacWorld Expo conference next January.
For the current quarter, Adobe now expects revenues to be between $912 million to $915 million, a bit lower than the previous range of $925 million to $955 million.
Adobe’s next quarter revenues might fall 20% over last year
More worrisome however is the steep drop – nearly 20% – the software maker is now expecting for next quarter’s revenues, falling $800 million to $850 million compared to last year’s $890.4 million.
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.
Jean-Baptiste Su
Mark Boslet
chiahwu
February 14, 2009 at 11:33 pm |
They are cutting jobs…then why are they recruiting people in india.
Is this a way to cut cost by firing fat package people and hire cheap once.
Isnt it so disgusting from the businessmen that its just about an year with falling market and they have siphoned off all the money they earned in the boom time.Thet are firing the same people who have done wonders to their companies.
March 14, 2009 at 5:19 am |
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