Adobe Shuts Down For A Week To Survive The Recession


Adobe’s North America operations will remain closed this week in an effort to cut operating costs, says Bloomberg.

Employees have been asked to use their paid vacation days during the shut-down. This forced vacation is in addition to the holiday shut-down between Christmas and New Year.

This is Adobe’s (ADBE) second shut-down this year. The last one was in April, and the company plans to have at least one more this year. This is a part of a bigger cost cutting plan, says Bloomberg:

The company has frozen salaries, trimmed bonuses and variable compensation plans, and curbed travel expenses, Chief Executive Officer Mark Garrett said in an April interview. In December, the company fired about 8 per cent of the workforce to help rein in costs during the economic slump. Second-quarter sales fell 21 per cent as customers held off upgrading to the latest version of Adobe’s Creative Suite programs, which account for about 60 per cent of revenue.

Image: Buba

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.