As I mentioned, only three file formats — PDF, TIFF, and the native Photoshop format — save images with layers. If you want to save a flattened version of your image — that is, with all layers fused into a single image — in some other file format, choose File ^ Save As (Ctrl+Shift+S) and select the desired format from the Format pop-up menu. If you select a format that doesn't support layers — such as JPEG, GIF, or EPS — the program dims the Layers check box.
The Save As command does not affect the image in memory. All layers remain intact. And if you select the As a Copy check box — which I recommend you do — Photoshop doesn't even change the name of the image in the title bar. It merely creates a flattened version of the image on disk. Nevertheless, be sure to save a layered version of the composition as well, just in case you want to edit it in the future.
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