News Update

Adobe Cuts 100 Jobs As Tech Crunch Tightens

The tech giant Adobe has reportedly laid off nearly 100 employees, primarily from its sales team; the cuts were made to reduce expenses. Adobe is not the only tech company stiffening its grip amid uncertain macroeconomic conditions. The organization’s workforce reductions are far lesser than the thousands announced by other tech companies, including¬† HP Inc., Amazon.com Inc., Meta Platforms Inc., and Cisco Systems Inc. The company, based in California, employed more than 28,700 people at the end of its fiscal third quarter on September 2nd, according to filings.

 

However, Adobe is providing opportunities for impacted workers to find other positions at the software company. In a statement, Adobe said that the company “shifted some employees to positions that support critical initiatives” and wiped out “a small number” of other jobs. The statement reportedly adds, “Adobe is not doing company wide layoffs and re 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 tech giant said the combination of “Adobe and Figma would usher in a new era of collaborative creativity.” Since its primary tools focus on creators and professionals, the organization hopes to reach small-scale firms with the acquisition.