Adobe Announces Crash® CS4 Professional

Published on December 3, 2008
by John Paczkowski

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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