Adobe Layoffs Job Cut: layoff 600 employees: Finance Trading Times

Adobe Layoffs Job Cut: layoff 600 employees

The Information Technology space is seeing one of the worst times as there are more and more news items reported about the layoffs in the IT sector. Adobe has decided to go for a layoffs or job cut. Adobe Layoffs Job Cut

How many employees will be fired in the Adobe Layoffs Job Cut
Adobe has decided to lay off around 600 employees.

What are the financial results of Adobe in the latest quarter?
The financial results have been well below the expectations. The fourth quarter revenues are expected to be between $912 million and $915 million, instead of the targeted $925 million to $955 million.

Is there any specific product which has led to the decline in Adobe revenues?
Ye. The Creative Suite 4 is said to have failed to meet the sales target.

Why is Adobe going for Layoffs Job Cut?
Its to reduce the costs and recover some money by savings. The global economic meltdown has affected evry industry secotr and Adobe is no exception to it.
The restructuring program should result in charges totaling approximately $44 million to $50 million, of which $28 million to $30 million will be recorded during the fourth quarter of 2008. Adobe also issued a 2009 Q1 revenue projection of $800 million to $850 million.

Let's hope that alternative jobs are available to the affected employees of Adobe Layoffs Job Cut.
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4 Comments: Post your Comments

Anonymous said...(on 8 December 2008 at 01:33 )  

Thats a true news, they have even laid off some 50-60 ppl in india.
Apart from that, No salary hikes this year.

Anonymous said...(on 17 December 2008 at 20:00 )  

I was laid off after more than 15 years with Adobe. Loyalty is no longer rewarded I guess. And the pitiful severance package requires you to agree to the following (exact quote):

"I agree that I will not, at any time in the future, make any disparaging statements about the Company, its products or its employees, unless such statements are made truthfully in response to a subpoena or other legal process."

Scrooge is well and alive at Adobe.

Anonymous said...(on 20 December 2008 at 08:30 )  

hopefully the management also took a 50% or more cut in salaries and no bonuses, since this is their failure as well!

Anonymous said...(on 30 December 2008 at 10:18 )  

Adobe is incredibly weak in its approach to human resources. Layoffs happen yearly there and they are leaching away their talent and loyal workers to hire cheap new college grads, while outsourcing the core productivity jobs to countries outside the US and laying off the seasoned employees who understand the business and customers. They've been doing this since the year 2000 or earlier and show no sign of changing this self-destructive policy. The results of these annual layoffs are displayed clearly in the lower quality of their flagship products and the faltering morale in the workplace. Since the founders, John and Chuck retired, Adobe has lost its original identity and has become just another corporate behemoth.

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