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.

So why resign?

“As any CEO will attest, the job of chief executive is all-consuming,” Chizen said during a call with analysts. “Quite simply, I’m at a point in my life where I would like to take a step back and think about what I would like to do in the next stage of my life. As much as I love Adobe products and employees, I didn’t want to find myself at 55 saying, ‘Gee, I wish I had done something else besides Adobe.’ ” What will he do next? “It could be that I do nothing, travel, sit on boards, run another company, invest in another company. I don’t know–nor would I ever know if I didn’t decide to take a break.”