Adobe to Cut Jobs, Expand Into Net Software

Adobe Systems Inc. said it will cut 250 jobs, or 9% of its work force, and use the savings for its expansion into the fast-growing market for Internet graphics software. The world’s biggest maker of graphics software used by newspapers and magazines said it will take a charge of $15 million to pay for the staff reduction, its second in nine months. About 40% of the cuts will come from Adobe’s foreign operations. Separately, Adobe said its fiscal second-quarter profit is expected to be “slightly” above its own earlier estimate of 62 cents to 66 cents a share. Revenue for the quarter ending on Friday is expected to be about $246 million, the top end of the range of analysts’ estimates, the San-Jose-based company said. Adobe shares rose $2.56 to close at $75.06 on Nasdaq.