Adobe Announces Crash® CS4 Professional
by John Paczkowski
Posted on December 3, 2008 at 2:56 PM PT
Well, no wonder Adobe won’t have an exhibition booth at Macworld Conference & Expo 2009–the company’s sacking employees who might have otherwise staffed it….
Citing the standard litany of economic tribulations, Adobe (ADBE) Wednesday reduced its fourth-quarter outlook and said it will cut 600 jobs around the world–about eight percent of its workforce. The company now expects revenue of $912 million to $915 million. In better times, that revenue target range had been $925 million to $955 million. “The global economic crisis significantly impacted our revenue during the fourth quarter,” said CEO Shantanu Narayen. “We have taken action to reduce our operating costs and fine-tune the focus of our resources on key strategic priorities.”
Adobe shares slipped nine percent to $20.50 in after-hours trading.
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Comments
If they only dropped their ridiculous pricing policy it might be a different scenario for them. The emerging markets continue to use pirated software because of this. A drastic reduction would lead to a whole new market.
Hopefully Apple will take a lead into this and start a competitive graphic design package as well just like they did for video and music. And who knows this could actually work for Microsoft’s Silverlight technology to gain market share to compete with Adobe’s Flash.
Posted by Dinesh Lalvani at December 3rd, 2008 at 8:07 pmThe joy this guy takes in announcing layoffs makes me sick!
Posted by Sean Kelly at December 5th, 2008 at 12:43 pmAs someone whose family is currently suffering the impact of layoffs like the ones that just hit Adobe, I can assure you I take NO joy whatsoever in reporting on staff reductions.
Posted by John Paczkowski at December 5th, 2008 at 1:53 pm