Adobe would cut 750 jobs and reduce investments in software companies as part of a wider plan to target the rapidly growing market for digital media and marketing of digital products, the company said Tuesday.
Adobe will provide details of the plan at a meeting for financial analysts in New York Wednesday morning, said. Adobe also lowers earnings outlook for the current quarter, partly to pay for the layoffs.
The change is part of a restructuring plan intended to improve Adobe's focus on the so called "exploding growth in the Category" digital media and digital marketing. Adobe is targeting market with tools for content creation and distribution, and to measure results from digital marketing campaigns.
Adobe declined to comment ahead of Analyst meeting at the company's products will be affected, or how they will be affected.
"In order to encourage an increase in Digital Marketing, reservation is recognized as a recurring income, the company will reduce investment, licensing and revenue is expected, in some corporate solutions product line," he said in a statement.