Adobe Systems Lays Off 3 Percent Of Work Force
Posted on: Tuesday, 18 November 2003, 06:00 CST
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, Calif., headquarters and at offices in Seattle and Ottawa, a company spokeswoman said yesterday. She declined to say how many people would lose jobs in Seattle. Before this week, Adobe employed 430 in Seattle.
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 product groups and were 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 said they 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 yesterday on the Nasdaq Stock Market.
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