Tuesday, June 30, 2009
Adobe in mid-summer shutdown
Silicon Valley / San Jose Business Journal
Adobe Systems Inc. is in the midst of its second of three cost-cutting shutdowns this year.
The San Jose company (NASDAQ:ADBE) is closed this week and shut down for a week in April. It plans at least two more one-week furloughs this year. Employees are being asked to use paid vacation during the shutdowns.
The graphic and Web development software company has reported consecutive quarterly sales drops, but posted $126.1 million in profit on $704.7 million in revenue in the quarter that ended May 29.
Adobe employs about 7,400 workers worldwide.
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