NEW YORK, USA: Adobe Systems Inc plans to lay off 750 positions and take a charge of up to $94 million as part of a restructuring to re-focus the company on digital media and marketing.
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Adobe said in a statement on Tuesday it expects to record pre-tax charges of $87 million to $94 million for consolidation and severance, of which $73 million to $78 million would be booked in the fiscal quarter ending Dec. 2.
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Adobe said it was sticking with previous estimates for the fourth quarter for both revenue and earnings excluding items.
In September, Adobe projected revenue of $1.075 billion to $1.125 billion, and earnings excluding items of 57 cents to 64 cents a share, on a non-GAAP basis.
Shares in Adobe slid to $28.30 in extended trading, from a close of $30.42 on the Nasdaq.