Adobe continues to shed staff with alarming regularity.
In a regulatory filing submitted to the Securities and Exchange Commission (SEC) last night, Adobe disclosed that it would cut 680 full-time employees, about nine percent of its global workforce.
Said Adobe in a statement:
“Adobe is restructuring its business to align costs with its fiscal 2010 operating plan and budget, the company’s three-year strategic priorities, and the realities of the business environment, as well as to ensure its ability to continue investing in long-term growth opportunities.”
This latest payroll purge follows a nine-percent workforce reduction within the Omniture unit, which had about 1,200 employees when it was acquired by Adobe in September. Before that, in December of 2008, Adobe announced that it would part with approximately 600 employees after the disappointing sales performance of its Creative Suite 4.
Since then, Adobe’s fortunes have waned more than they’ve waxed. The company has experienced decreasing revenue and earnings in recent quarters, with its top line taking a particular beating. In the absence of growth, Adobe has taken to vigorous cost reductions, which have included a yearlong drumbeat of job cuts.
The company’s words and actions suggest that it doesn’t anticipate a near-term rebound.