Adobe Systems is restructuring its operations, increasing the company's focus on its digital media and digital marketing software and laying off some 750 employees, the company said late Tuesday.
The company also said it is reaffirming its revenue projections for its current quarter, which ends in early December, with sales expected to be between $1.075 billion and $1.125 billion. The company reports the fourth quarter results on Dec. 15.
"Adobe is investing aggressively in digital media and digital marketing, two growing market areas," the company said in a statement. Adobe described itself as the industry leader in digital media, which includes content authoring applications for creating, distributing and monetizing digital content. And the company said it "intends to be the leader" in digital marketing applications used to manage, measure and optimize digital marketing and advertising.
In August Adobe said it was reorganizing its operations and software product lines around content authoring and digital marketing.
That resulted in a shakeup in Adobe's management ranks and the departure of Rob Tarkoff, senior vice president and general manager of the company's Digital Enterprise Solutions business unit. At the time the company did not disclose whether any layoffs were involved.
The restructuring announced this week is designed to "better align resources around digital media and digital marketing," Adobe said. That will result in the elimination of approximately 750 full-time positions in North America and Europe. The company said it would take a charge against fourth-quarter earnings of $87 million to $94 million to cover the restructuring costs.
Adobe will provide more details about the restructuring at a meeting with financial analysts scheduled for today in New York.