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Adobe Cuts 750 Jobs in Europe and North America

After Adobe announced the cutting of 750 jobs, shares of the company fell down in their extended trading. The job cut is a part of the company's effort to shift their investments to various programs related to Web advertising and digital publishing.

Yesterday, Adobe in a statement, said that the focus of the job cuts is, primarily, Europe and North America.

After various costs, the company's net income is expected to be 30 cents to 38 cents per share, which was predicted earlier to be 41 cents to 50 cents, as reported by Bloomberg.

As the largest graphic-design software company, Adobe is facing stiff competition from Microsoft as well as Apple. In addition, the industry is drifting from the original Flash technology to Internet programming, which means Adobe will have to shift its product focus to include this new technology.

Bloomberg also reported that, in New York today, CEO of Adobe, Shantanu Narayen, along with other executives are holding a presentation for financial analysts to discuss the business strategy of the company moving ahead.