As fate would have it, Adobe picked the worst possible quarter to roll out the great update to its flagship Creative Suite widgetry.

Because the economy is tanking, it hasn't been selling the way it was supposed to. As a result, revenues came up short in the November quarter and Adobe has decided to lay off 8% of staff worldwide, 600 people.

Adobe released the news late Wednesday and said its preliminary calculations have it doing between $912 million and $915 million in its fiscal fourth quarter ended November 28, $13 million-$45 million short of guidance.

It's been watching costs so earnings look to come in better than expected at between 45 cents-46 cents (GAAP). It was only projecting 39 cents-41 cents.

It now figures to do $800 million-$850 million this quarter, it said. Wall Street had been thinking $931 million.

Adobe is supposed to post its numbers on December 16.

It figures restructuring will result in a charge of $44 million-$50 million. It should take $28 million-$30 million of the charge in the fourth quarter.

Besides canceling raises, restricting travel, and shutting down the company for a few days in July, insiders say Adobe is going to close offices in San Diego; Waterloo, Canada; and San Luis Obispo, California.