Topic / Economic Slowdown

Adobe to shut down for a week to cut costs

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Adobe, the owners of Flash, Dreamweaver, Fireworks and almost every single web development tool out there, will shut down its North American operations this week to cut its operating costs as the recession affects its sales, according to Bloomberg. The employees were told in March that it would impose closures for one week during the second, third and fourth quarters of this year, and asked the staff to take the […]

Nokia net profit plunges down 90 percent

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Nokia, the number one maker of mobile phones in terms of market share, has reported in its first quarter of 2009 earnings today, and has said that it had a worse-than expected 90 percent drop in its net profit, as the phone maker faces a difficult year as the economic slowdown continues to hit hard. Net profit, according to the Wall Street Journal, plummeted to €122 million, from €1.22 billion […]