Adobe Systems, Inc., world headquarters is San Jose, and it a fixture in the downtown area.
In its earnings release Tuesday, San Jose-based Adobe announced it will lay off 750 full time positions.
Adobe is a design software maker. It says the layoffs are part of a plan to update its suite of products and support the popular HTML5 programing language.
It was not immediately clear how many of the positions are local. The release said they were "primarily in North America and Europe."
Adobe has some 9,000 employees, so the layoff is less than 10-percent of its work force.
Layoffs are bad news for the people impacted, but it is not always bad news for the company.
Adobe said in it's release that it plans to focus it's business around what it called the explosive growth categories of Digital Media and Digital Marketing solutions.
"We expect to report record revenue within the fourth quarter target range we previously issued," the released stated.
All of that news caused the stock to fall seven percent in after hour trading.