Publishing and design software maker Adobe Systems Inc. (ADBE) said Tuesday that it will cut about 680 full-time jobs worldwide to appropriately align its costs in connection with its 2010 operating plan.
As a result, the San Jose, California-based company said, it expects to record about $65.0 million to $71.0 million in pre-tax restructuring charges.
Included in the charges are about $17.0 million to $19.0 million mainly related to the consolidation of leased facilities and about $48.0 million to $52.0 million related to employee severance arrangements.
The company expects to record about $18.0 million to $20.0 million of the charges in the fourth quarter ended November 27.
Adobe, famous for its Photoshop editing and Acrobat document-sharing software, said the restructuring plan relates only to those employees and facilities that were associated with Adobe prior to the acquisition of Omniture, Inc. on October 23.
Adobe expects to incur additional restructuring expenses relating to Omniture's operations. Those costs will be included in the assumed liabilities of Omniture as of October 23 and will be recorded as part of the total acquisition purchase price of Omniture, Adobe noted.
Adobe shares closed Tuesday's regular trading session at $36.60, up 15 cents and gained an additional 5 cents in after hours trading.
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