Archive | November 14, 2011

Adobe Drops 9%: Sets Restructuring, Laying Off 750

14 Nov

As reported in the Tech Trader Daily, shares of Adobe (ADBE) are down $2.81, or 9%, at $27.61 after the company said it will restructure its business, including cutting 750 full-time jobs, mostly in North America and Europe.

Adobe plans to focus on and invest “aggressively” in “digital media” and “digital marketing,” it said. It will invest less in development of products for enterprise customers, the company said. That will reduce 2012 revenue growth by 4 to 5 percentage points, the company said, for total revenue growth of 4% to 6%.

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