Adobe Sacks Nine Percent of Workforce
Add Adobe to the fast-growing list of tech companies sacking employees in November. In an 8-K filing made today with the Securities and Exchange Commission, the company said it will cut nine percent of its workforce, approximately 680 jobs, to better cope with flaccid demand for its software.
Cuts at Adobe (ADBE) will occur worldwide and are intended to bring costs in line with its 2010 budget and “the realities of the business environment,” the company said in a statement. They follow a similar round of cuts made in 2008 that claimed the livelihoods of about 600 people.