Adobe cutting 680 jobs

Adobe Systems, known for its Photoshop editing program and Acrobat document software, announced on Tuesday it was cutting some 680 jobs worldwide, about nine percent of its workforce.

Adobe, in a filing with the US Securities and Exchange Commission (SEC), said it would incur between 65 million dollars and 71 million dollars in restructuring charges because of the layoffs.

Adobe said the jobs being cut only involve employees who were with the San Jose, California-based company ahead of its October acquisition of Web analytics firm Omniture Inc.

Adobe, which employed 7,564 people worldwide at the end of August, also produces the Flash and Shockwave software used in many games and Internet applications.

Adobe shares were trading 0.14 percent higher at 36.65 dollars in after-hours electronic trading in New York.

(c) 2009 AFP