Adobe Fires 600 Employees, Sales Less Than Projected
Dec 3rd, 2008
Adobe System said this afternoon in a statement that it will cut its revenue outlook for fiscal Q4, 2008, citing the impact of the global economic crisis. The company also wants to cut costs by firing 600 full-time employees, about 8 percent of its workforce. The company's Q4 revenue target range was $925 million to $955 million but will be able to deliver between $912 million to $915 million only. The main cause for the revenue deficit, cited, was weaker-than-expected demand for ...