Posted on 11/08/2011 5:54:20 PM PST by Cardhu
Despite predicting record-setting revenue for the current quarter, San Jose software company Adobe (ADBE) announced Tuesday that it will lay off up to 7.5 percent of its workforce.
Adobe is making a push for greater control of the digital media and marketing sectors, a decision that "will result in the elimination of approximately 750 full-time positions primarily in North America and Europe," the company said in a news release. Adobe reported at the end of its last quarter that it employed 10,040 people.
In an email, Adobe spokeswoman Jodi Sorensen declined to state how many employees will be laid off as opposed to eliminating open positions. She also would not say what divisions of the company would be targeted for layoffs nor how many of the layoffs will come from Adobe's San Jose headquarters.
"These reductions span our business units and geographies, and they reflect our shifts in investment toward the high-growth Digital Media and Digital Marketing categories as a result of priority changes and reduction in some projects," she wrote.
The move will cost the company $87 million to $94 million, with $70 million to $75 million going to employees as severance payments, Adobe reported.
Adobe stuck to its previous guidance for fourth-quarter revenue, which it said will be a record-setting $1.075 billion to $1.125 billion.
(Excerpt) Read more at mercurynews.com ...
“These reductions span our business units and geographies...”
...but not INDIA....
so what is that 100 thousand per person on average?
Many countries, including India, encourage companies and give incentives. Unlike the US which tends to penalize companies.
The reductions will take place in America and Europe where they will save more with each layoff.
More jobs crated or shaved...
Celebrations in Bangalore!
Probably a result of their execrable Adobe Reader.
Foxit!
It’s a hell of a severance. Amount would be unknown based on the unknown RIF number.
That’s where my job is flying off to next year.
Lucky you (mine swam over last year)!
I was extremely lucky, a few years ago. My former employer began shipping 80% of the graphics work my coworkers and I were doing to there, right after I was offered a job I’d waited years for. So, unfortunately, the attrition began among my friends & former coworkers, just after I left. There was a small comfort: the idiom of english there is evidently still British, as opposed to American. My former employer seems to have a fair amount of trouble getting that side of the artwork to come out correctly. But as I said, small comfort.
I hope that whatever your particular talents are, your landing is a soft one, and sooner, not later.
As for Adobe, you’d think that a company with the literal industry standards for drawing and image editing would tighten belts, and return their focus to core competencies, but I guess not. What a shame.
They also decided it is cheaper to send the rest of the product lines to Victoria, BC over Nashville. Good God man, that is complete repudiation of dictator-in-chief.
People are scrambling but getting placed is tight. Many with 75,000 a year jobs may be to 1000 a month in no time. We have inside contacts with many large corporations but times are very bad.
They don’t want to be outflanked online.
Something else takes out flash and that is a huge blow to them.
Sure their creative suite will still be the gold standard but it is a smart move to expand to online/cloud media space because that is the way everything else is going.
On the other hand why you need to lay off hundreds of people while you are still very very profitable makes a little less sense.
“On the other hand why you need to lay off hundreds of people while you are still very very profitable makes a little less sense.”
Downsizing is a management technique to lower costs and ‘motivate’ the remaining employees. They do it because they can hire new people for a lot less than the existing employees. They view employees as no different than a desk or computer to be replaced at will.
As long as Adobe refuses to acknowledge the problems with Flash, Creative Suite and just keeps stacking more features on both instead of fixing their problem, they deserve what they catch.
Get “PDF Complete Corporate Edition”
One can get it on Amazon.com for about 18 bucks.
Adobe charges *way* to much for their products. Screw that!
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