Adobe Layoffs Job Cut: layoff 600 employees

The Information Technology space is seeing one of the worst times as there are more and more news items reported about the layoffs in the IT sector. Adobe has decided to go for a layoffs or job cut.

How many employees will be fired in the Adobe Layoffs Job Cut
Adobe has decided to lay off around 600 employees.

What are the financial results of Adobe in the latest quarter?
The financial results have been well below the expectations. The fourth quarter revenues are expected to be between $912 million and $915 million, instead of the targeted $925 million to $955 million.

Is there any specific product which has led to the decline in Adobe revenues?
Ye. The Creative Suite 4 is said to have failed to meet the sales target.

Why is Adobe going for Layoffs Job Cut?
Its to reduce the costs and recover some money by savings. The global economic meltdown has affected evry industry secotr and Adobe is no exception to it.
The restructuring program should result in charges totaling approximately $44 million to $50 million, of which $28 million to $30 million will be recorded during the fourth quarter of 2008. Adobe also issued a 2009 Q1 revenue projection of $800 million to $850 million.

Let's hope that alternative jobs are available to the affected employees of Adobe Layoffs Job Cut.