Adobe is feeling the hurt as a company who’s based 60% of their revenue on a fairly expensive software update that offers minimal new features in an economy suffering a recession. To save costs, Adobe will be closing their offices for a week.
Second-quarter sales fell 21 percent as customers held off upgrading to the latest version of Adobe’s Creative Suite programs, which account for about 60 percent of revenue. Sales in Europe trailed expectations, the company said on a June 16 conference call.
And that’s not all, they’ve announced a similar shutdown will happen again in each of the following three quarters.
via Adobe Shuts for a Week to Cut Operating Costs During Slump – Bloomberg.com.
