The company made famous by the ubiquitous Flash Player and multimedia software like the Adobe Creative Suite has announced its plans to eliminate 750 full-time positions in attempts to reposition itself as a leader in digital media and marketing. In two separate press releases, Adobe gave a glimpse into the restructuring, which it will cover in-depth at a financial analysts meeting in New York tomorrow. The company expects the plan to result in pre-tax charges somewhere in the ballpark of $87 million and $94 million, a large chunk of which will come from expenses "related to employee severance agreements."According to one of the two press releases, the master of Flash plans to continue offering the Creative Suite as well as expanding "tablet-based touch apps" and cloud-based software. It's also promised to invest further in HTML 5 through tools like Dreamweaver, the recently announced Edge and PhoneGap, which it acquired with the purchase of Nitobi. Despite the shakeup, Adobe expects to meet its previous Q4 projections of between $1.075 billion and $1.125 billion. A bunch of corporate what-nots await you in the dual press releases after the break.
Continue reading Adobe to lay off 750 workers, restructure around digital media, marketing
Adobe to lay off 750 workers, restructure around digital media, marketing originally appeared on Engadget on Tue, 08 Nov 2011 23:14:00 EDT. Please see our terms for use of feeds.
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