San Jose - Adobe Systems has announced a restructuring of the company after providing the preliminary results of its fiscal fourth quarter. Adobe believes its revenue will fall between $912 million and $915 million, which is far below its goal of $925 million to $955 million.
600 full-time positions will be eliminated from various locations around the world. This is expected to result in charges of up to $50 million with up to $30 million coming from fiscal year 2008.
Adobe cited demand for its Creative Suite 4 series of products as being weaker than expected after being shipped out during the fourth quarter.
For the first quarter of 2009, the company is projecting $800 million to $850 million in revenue. Adobe will release its official quarterly and year-end results for 2008 on December 16th.
