Offering regional and national programs, CIO (and CSO) events bring together some of the most respected names and thought leaders in information technology and security. Presented by CIOs and other senior level executives, these invitation-only programs offer timely topics and strong networking. Learn More »
Social Responsibility's Strategic Benefits
December 15, 11:30 AM - 12:30 PM US/Eastern (GMT-5)
Join Ed Granger-Happ, CIO of Save the Children, for a discussion of how creating an organization that is socially responsible improves staffing, retention, leadership development and overall corporate health.
Working With and Communicating to Your Board of Directors
January 13, 2009, 4:00 PM - 5:00 PM US/Eastern (GMT-5)
CIO panelists who will share tips and experiences working with their boards: Twila Day of SYSCO; Jeff O'Hare, West Corp.; Marc West, formerly with H&R Block.
IT's Role in Growing Mid-Market Companies
January 14, 4:00 PM - 5:00 PM ET (GMT-5)
Mid-market Council members will share their companies' stories and challenges in driving or coping with growth. Panelists represent Veterinary Pet Insurance, Medicis Pharmaceutical, and Intrax Cultural Exchange.
Learn more about the CIO Executive Council »
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Adobe Says it Will Cut 600 Jobs, Lowers Revenue Guidance
Hit by the global economic slowdown, Adobe Systems said Wednesday that it would cut 600 jobs and lowered its revenue expectations for the fourth quarter.
December 03, 2008 — IDG News Service —
Hit by the global economic slowdown, Adobe Systems said Wednesday that it would cut 600 jobs and lowered its revenue expectations for the fourth quarter.
The job cuts will be made worldwide and account for about 8 percent of Adobe's total workforce, which stood at 7,623 at the end of September.
The economic slowdown led to slower-than-expected sales of Adobe's new Creative Suite 4 software, which includes products like Photoshop and Dreamweaver and went on sale during the fourth quarter in North America and Europe, the company said.
"The global economic crisis significantly impacted our revenue during the fourth quarter," Shantanu Narayen, Adobe's president and CEO, said in a statement.
Adobe said it expects fourth-quarter revenue to be between US$912 million and $915 million, down from its earlier forecast of $925 million to $955 million. Profits will be higher than expected, however, at $0.59 to $0.60 per share before one-time charges, ahead of the consensus analyst estimate of $0.51, according to Thomson Reuters.
The news sent Adobe's stock 7 percent lower in after-hours trading, to $20.95. Adobe is due to report its full results Dec. 16.
It joins a growing list of technology companies, including SAP, Intel and Sun Microsystems, that have been hurt by the economic downturn.
Copyright © 2008 IDG News Service. All rights reserved. IDG News Service is a trademark of International Data Group, Inc.
The Intelligent Enterprise
The Case for A Specialized Security Platform
Protecting the Code: Technology Escrows Safeguards Critical Software
Optimizing Infrastructure Control
Enterprise Findability without the Complexity
Google Case Study: Agile Software
Google Search Appliance - New Features
Complexity is Good
Raising the Bar on Business Service Delivery: Best Practices in Application Performance
Paving the Way for Trusted Collaboration
Enabling the Global Enterprise
Get a grip on your mobile workforce Webcast
Resource Alerts
Get instant email notifications by topic when white papers, webcasts, and case studies are added to our library.
AMD to Bring HD Gaming and Movies to Mobile Phones
Intel-Backed Enterprise 2.0 Suite is Discontinued
Wall Street Beat: IT Faces Tough Start to 2009
Dual-Mode Smartphones Help Boost Wi-Fi Shipments
Palm Announces WebOS and Pre Phone
Nokia Ends Production of Its Only WiMax Device
FAQ: How to Get the Windows 7 Beta
HP Aims TouchSmart Desktop PC at Businesses
Red Hat to host Second Life-like virtual JBoss trade show
Windows 7 Public Beta to be Available Friday
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