On the heels of weaker-than-anticipated projected fourth-quarter earnings released today, image software giant Adobe has announced that it will attempt to reduce operation costs by cutting 600 jobs worldwide.
According to a quarterly earnings press release filed today, demand for Adobe's latest Creative Suite bundle of graphics software, Creative Suite 4, failed to meet expectations, resulting in a revenue shortfall of at least $10 million based on low-side 2008 revenue targets.
The company anticipates that restructuring and job cuts should net an additional $50 million, distributed across Q4 2008 and Q1 2009.
Adobe's press release has complete details on projected earnings and Adobe's restructuring initiative.
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