Nearly one hundred employees at Adobe have been let go, mostly from the sales department. These reductions were undertaken to save money. However, they are far less in scope than the thousands of jobs lost at Amazon, Meta, and Twitter. As of the third quarter of 2022, the corporation has over 28,700 employees. Despite a period of macroeconomic uncertainty, Adobe is hardly the only IT firm to strengthen its grasp. Adobe isn’t the only Indian IT company that’s been laying off a lot of people recently; Byju’s, Josh, as well as HealthifyMe, have all announced massive layoffs in recent days.
Straight From The Firm
According to Bloomberg, Adobe is assisting affected employees in transitioning to new roles inside the software giant. According to a statement sent to the media outlet, Adobe has eliminated “a limited number” of roles and “moved certain individuals to posts that serve key priorities.”
Reports say that the statement continues, “Adobe is not undertaking company-wide cutbacks, and we are currently recruiting for important jobs.”
Adobe Under Scrutiny
For example, in September, Adobe revealed that it would be acquiring Figma, a prominent web-first co-design system, for almost $20 billion in cash and equity. A press release at the time of the purchase predicted that “Adobe and Figma would herald a new age of cooperative innovation.” The firm’s purchase of the startup is an attempt to expand its customer base beyond the artists and experts it now caters to with its core products.
Nevertheless, the US Department of Justice is looking into whether or not the purchase violates anti-trust laws. To what extent the corporation will lay off further workers in the next weeks and months is unknown. Results for the fiscal fourth quarter are expected to be released by the corporation on December 15.
Earlier, we saw that Adobe isn’t the only IT business using stringent efforts to save costs. Because of Elon Musk’s acquisition, roughly half of Twitter’s staff has been let go. Both Amazon and Meta have cut off substantial numbers of employees, and if things don’t improve, the businesses may take even more drastic measures.