• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Adobe Systems Cuts 3 Percent of Work Force

Posted on: Friday, 14 November 2003, 06:00 CST

SAN JOSE, Calif. (AP) - Software maker Adobe Systems Inc. has trimmed about 3 percent of its work force, cutting 100 jobs as part of an ongoing realignment.

The cuts made this week primarily affected workers at the San Jose headquarters and offices in Seattle and Ottawa, Ontario, a company spokeswoman said Friday.

Adobe, the largest maker of publishing and graphic design software, has about 3,500 workers worldwide. The company said cuts were made across a number of different product groups and not related to the planned acquisition, announced earlier this week, of Yellow Dragon Software, a small company that makes a programming tool and could bolster Adobe's electronic document products.

Company officials do not expect the layoffs to have a material effect on Adobe's financial status.

Last month, the company reaffirmed its outlook for the fourth quarter, targeting revenues of $330 million to $350 million.

Shares of Adobe traded down $1.79 to close at $41.09 on the Nasdaq Stock Market.

More News in this Category