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[Nvyseal]

images/news/generic.jpgAdobe Systems Inc on Wednesday lowered is revenue outlook and said it will eliminate 600 jobs, or around 8 percent of its bloat, due to the weak economy, sending its stock down 7 percent in extended trading.

"The global economic crisis significantly impacted our revenue during the fourth quarter," said Shantanu Narayen, the company's chief executive, in a statement. "We have taken action to reduce our operating costs and fine-tune the focus of our resources on key strategic priorities."

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[m.oreilly]

Nvyseal, on Dec 3 2008, 05:15 PM, said:

Adobe Systems Inc on Wednesday lowered is revenue outlook and said it will eliminate 600 jobs, or around 8 percent of its bloat, due to the weak economy, sending its stock down 7 percent in extended trading.

"The global economic crisis significantly impacted our revenue during the fourth quarter," said Shantanu Narayen, the company's chief executive, in a statement. "We have taken action to reduce our operating costs and fine-tune the focus of our resources on key strategic priorities."

Read On

"the global economic crisis" my @ss! greed is more like it. while it is a wonderful tool, they are basically gouging...i'm sure all the executives will get nice bonuses this year...