Ottawa’s largest software firm says it will reduce its local workforce by roughly one-third as the company focuses its resources on digital media and digital marketing.
(Photo by Etienne Ranger)
The 100 full-time jobs eliminated in Ottawa are part of 750 positions being eliminated, mostly in Europe and North America. The company says it previously had approximately 300 employees - down from the 350 it reported over the summer - in Ottawa, which serves as the tech firm's Canadian headquarters.
Adobe expects to incur between US$87 million and US$94 million in restructuring charges, primarily in severance pay and the costs associated with consolidated its leased facilities.
Nevertheless, the company says it is sticking to its fourth-quarter revenue guidance of between US$1.075 billion and US$1.125 billion.
"We expect to report record revenue within the fourth quarter target range we previously issued," said Mark Garrett, Adobe's executive vice-president and chief financial officer, in a statement.
The company is scheduled to release its fourth-quarter results after markets close on Dec. 15.
Adobe said its digital media strategy would revolve around its Creative Suite and Creative Cloud products, as well as Dreamweaver, Edge and PhoneGap.