Developers were apparently briefed by Adobe about the situation, which will be expanded upon later today on Adobe's official site:
Our future work with Flash on mobile devices will be focused on enabling Flash developers to package native apps with Adobe AIR for all the major app stores. We will no longer adapt Flash Player for mobile devices to new browser, OS version or device configurations. Some of our source code licensees may opt to continue working on and releasing their own implementations. We will continue to support the current Android and PlayBook configurations with critical bug fixes and security updates.Earlier Tuesday, Adobe announced that it would be laying off 750 employees in a wider restructuring, but didn't specify which departments would be hit.
Though Flash was held up as a selling point—and a differentiating point—for Android and other devices positioned against Apple's notorious anti-Flash crusade in iOS, Adobe was never really able to smooth over performance, battery, and security issues. Meanwhile, more and more web content—once overflowing with Flash—has been migrating to HTML5, or siloing itself in mobile apps. Flash had been scheduled to come to Windows Phone at some point in the future, but that project is presumably out to pasture now too.