By Ottawa Business Journal Staff
Fri, Nov 14, 2003 8:00 AM EST
San Jose software firm Adobe Systems has cut about 100 employees this week and some Ottawa staff are among them.
Adobe said the cuts affected operations in San Jose, Seattle and Ottawa. However, a specific breakdown of the cuts by region was not disclosed.
"This is part of our ongoing effort to align resources with long-term business strategies and is not related to financial outlook or need for expense reductions," company spokeswoman Holly Campbell said in a statement.
Adobe has about 3,500 workers worldwide with around 290 in Ottawa. The company said it doesn't expect the layoffs to have a material effect on its financial projections.
Late last month, Adobe raised its forecast for 2004 on the strength of its desktop publishing software.
The company said it expects to achieve sales next year of $1.43 billion (all figures in U.S. dollars). The consensus among analysts polled by Reuters Research was for $1.37 billion in revenue.
The layoffs come in the same week that Adobe said it would acquire Yellow Dragon Software, a small Vancouver company that specializes in XML tools. Adobe acquired the private firm to bolster its line of electronic document software, which includes the widely used PDF software Acrobat.
Also included in that product line is the operations of Ottawa's Accelio Corp., the electronic document firm that began life in 1982 as JetForm Corp. Adobe acquired the company in February 2002 with a white knight bid that thwarted a hostile takeover attempt by Waterloo, Ont.-based Open Text Corp. As part of the integration of Accelio, Adobe cut about 200 local jobs.
Fri, Nov 14, 2003 8:00 AM EST
San Jose software firm Adobe Systems has cut about 100 employees this week and some Ottawa staff are among them.
Adobe said the cuts affected operations in San Jose, Seattle and Ottawa. However, a specific breakdown of the cuts by region was not disclosed.
"This is part of our ongoing effort to align resources with long-term business strategies and is not related to financial outlook or need for expense reductions," company spokeswoman Holly Campbell said in a statement.
Adobe has about 3,500 workers worldwide with around 290 in Ottawa. The company said it doesn't expect the layoffs to have a material effect on its financial projections.
Late last month, Adobe raised its forecast for 2004 on the strength of its desktop publishing software.
The company said it expects to achieve sales next year of $1.43 billion (all figures in U.S. dollars). The consensus among analysts polled by Reuters Research was for $1.37 billion in revenue.
The layoffs come in the same week that Adobe said it would acquire Yellow Dragon Software, a small Vancouver company that specializes in XML tools. Adobe acquired the private firm to bolster its line of electronic document software, which includes the widely used PDF software Acrobat.
Also included in that product line is the operations of Ottawa's Accelio Corp., the electronic document firm that began life in 1982 as JetForm Corp. Adobe acquired the company in February 2002 with a white knight bid that thwarted a hostile takeover attempt by Waterloo, Ont.-based Open Text Corp. As part of the integration of Accelio, Adobe cut about 200 local jobs.
