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[Best Syndication News] Adobe Systems Inc. is not making the expected revenues for their fourth-quarter earnings, which has prompted the corporation to plan an 8 percent reduction in their workforce. That is the equivalent of 600 employees that will be losing their jobs.

Adobe had 7,623 employees by the end of 3rd quarter. The cutbacks have prompted a drop in the stock market shares to $20.50 or 9 percent.

The report of earning for Adobe’s 4th quarter is expected to be announced on December 16th.

Another company that announced cutbacks is Freeport-McMoRan Copper & Gold Inc. who is the largest publicly traded copper producer. They announced that they will be cutting back 20 percent of their workforce in the US. They have employees in Arizona and New Mexico.

State Street Corp. also announced job cuts of around 1600 to 1800 employees. This is a 6 percent reduction in workforce but will happen on a global scale. The job cuts are expected to happen now until the end of the 1st quarter of 2009. State Street is an investment services company.

UAL Corp which is the parent company to United Airlines announced that the will be laying off 1200 employees by early next year. This is part of the 7,000 planned job cuts that they have previously announced.

By: Nicole Wilson
Best Syndication News Writer