Adobe to cut 600 jobs, report lower fourth-quarter revenue
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On the heels of other tech company layoffs, Adobe Systems said Wednesday that it will cut 600 jobs or about 8 percent of its workforce because of the global economic downturn and slow demand for one of its flagship software products.
“The global economic crisis significantly impacted our revenue during the fourth quarter,” Chief Executive Shantanu Narayen said in a statement, which also cited “weaker-than-expected demand” for Creative Suite 4, the newest version of one of Adobe’s most popular and profitable products.
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