ADOBE Inc has eliminated about 100 jobs, concentrated in sales, joining many other tech companies in using staff cuts to reduce expenses.
Some of the employees who lost their jobs were given the opportunity to find other positions at the software company, according to a person familiar with the situation who wasn’t authorised to speak publicly about the cuts. Adobe’s workforce reductions are far smaller than the thousands announced by other technology companies, including Amazon.com Inc, HP Inc, Cisco Systems Inc and Meta Platforms Inc. The company, based in San Jose, California, employed more than 28,700 people at the end of the fiscal third quarter on Sept 2, according to filings.
The company “shifted some employees to positions that support critical initiatives” and wiped out “a small number” of other jobs, Adobe said in a statement.
“Adobe is not doing companywide layoffs and we are still hiring for critical roles,” the company said.
Adobe announced in September an agreement to purchase smaller rival Figma Inc for US$20 billion, one of the largest prices ever paid for a private software maker. The US Department of Justice is investigating the deal for potential antitrust issues. Adobe, which has dominated the market for creative software for design professionals, is seeking to expand its user base to more casual consumers and small businesses.
The company is scheduled to report fiscal fourth-quarter results on Dec 15. The stock has tumbled 42% this year amid a broad slump in the software industry. – Bloomberg