Designing software firm Adobe Systems
plans to lay off about 750 people and record up to $94 million charges as part of a restructuring effort to focus on businesses like digital media and marketing.
"In order to better align resources around Digital Media and Digital Marketing, Adobe is restructuring its business.
This will result in the elimination of approximately 750 full-time positions, primarily in North America and Europe," Adobe said in a statement.
The company said it is investing aggressively in digital media and digital marketing, two growing market areas.
In digital media, the company offers content authoring solutions enabling customers to create, distribute and monetise digital content.
In digital marketing, the company intends to be the leader in solutions to manage, measure and optimise digital marketing and advertising.
The company also expects to record in the aggregate about $87 million to $94 million in pre-tax restructuring charges.
"These charges include about $17-19 million on consolidation of leased facilities, and about 70-75 million in charges related to employee severance arrangements," Adobe said.
Adobe expects to record about $ 73-78 million of these charges in the fiscal quarter ending December 2, 2011, it added.
The company has a presence in India but whether the present announcement affects the Indian operations couldn't be ascertained.
The company, for now, continues with its previous estimates for the fourth quarter for revenue.
In September, Adobe projected revenue to be in the range of $1.075 billion to $1.125 billion.
"We expect to report record revenue within the fourth quarter target range we previously issued," Adobe Executive Vice President and CFO Mark Garrett said.
When contacted, the company spokesperson said, "There is no impact on India operations".
The total headcount in India is 2,000 employees, who are primarily based out of Bangalore and Noida.
These employees represent all major functions including research and development, sales and marketing, HR, Finance and IT among others.