- Adobe employed nearly 28,700 workers, as per the company’s Q3 2022.
- The company has fired nearly 100 employees, mainly from the sales team.
- Adobe says it is not doing companywide layoffs and it is still hiring for critical roles.
Adobe reportedly laid off nearly 100 employees, the majority of whom worked in sales. The cuts were made to cut costs, though the magnitude is much smaller than the thousands of job losses at Amazon, Meta, and Twitter. According to the company’s financial report for the third quarter of 2022, it employed nearly 28,700 people. Adobe isn’t the only tech firm tightening its grip in the face of uncertain macroeconomic conditions. Not only Adobe, but also some Indian tech companies such as Byju’s, Josh, and HealthifyMe, have laid off hundreds of employees in recent weeks.
According to Bloomberg, Adobe is offering affected employees opportunities to find new jobs at the software company. Adobe said in a statement to the publication that it “shifted some employees to positions that support critical initiatives” and eliminated “a small number” of other jobs.
The statement reportedly adds, “Adobe is not doing companywide layoffs and we are still hiring for critical roles.”
Notably, Adobe announced in September that the company would purchase Figma, a leading web-first collaborative design platform, for approximately $20 billion in cash and stock. At the time of the acquisition, the company said the combination of “Adobe and Figma will usher in a new era of collaborative creativity.” Since its main tools are focused on creators and professionals, the company hopes to reach small-scale firms with the acquisition.
However, the US Department of Justice is investigating the transaction for antitrust violations. It is unknown whether the company will lay off additional workers in the coming weeks and months. On December 15, the company will report its fiscal fourth-quarter results.
As previously stated, Adobe is not the only technology company taking drastic measures to cut costs. Following Elon Musk’s takeover, Twitter laid off nearly half of its workforce. Amazon and Meta have laid off a large number of employees, and the companies may take harsher measures if the situation does not improve.
