Adobe (ADBE) Cutting 680 Full-Time Jobs to Align Costs with '10 Operating Plan
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In a Form 8-K, Adobe Systems (Nasdaq: ADBE) announced a workforce reduction to appropriately align its costs in connection with its 2010 operating plan. As a result, Adobe expectx to eliminate approximately 680 full-time positions worldwide.
The company expects to record in the aggregate approximately $65.0-$71.0 million in pre-tax restructuring charges associated with this Restructuring Plan. Included in these charges are:
- approximately $17.0-$19.0 million primarily related to the consolidation of leased facilities and
- approximately $48.0-$52.0 million related to employee severance arrangements.
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