In A report by Reuters says that Adobe Systems Inc plans to lay off more than 7 per cent of its workforce and take a charge of up to $94 million as part of a restructuring to focus on core businesses such as digital media and marketing.
While the world's largest maker of design software recently projected better-than-expected fourth-quarter revenue, the new development did not sit well with Wall Street: the company's shares went down 9.2 per cent.
Adobe, says Reuters, is updating its suite of products to keep pace with trends and moving to support the increasingly popular HTML5 programing language.
The report adds: "The company did not specify where or what changes might occur. In September, CFO Mark Garrett warned that its print and publishing segment was expected to stay flat this quarter from the previous one."
It is unclear if any of Adobe's large developer workforce will be affected as a result of the layoffs.
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