CRN | Adobe, Macromedia | Adobe Posts Profit, Plans Job Cuts

CRN | Adobe, Macromedia | Adobe Posts Profit, Plans Job Cuts: "Adobe Systems posted higher fourth-quarter earnings Thursday but said it expects to cut 650 to 700 jobs as it folds recently acquired rival Macromedia into its operations.
The 11 percent to 12 percent work force reduction will cut overlapping positions, help the company focus on growth areas and help it achieve its 2006 financial targets, said Murray Demo, Adobe's chief financial officer. Employees from both companies will be affected. "