According to reports, Adobe has let go of close to 100 workers, mostly from the sales department. Although the size of the cuts is much smaller than the thousands of job reductions at Amazon, Meta, and Twitter, they were made to save costs. According to its Q3 2022 financial report, the company employed close to 28,700 people. Although the macroeconomic outlook is uncertain, It is not the only tech business tightening its control. Numerous Indian software companies, including Byju’s, Josh, and HealthifyMe, also fired hundreds of staff in recent weeks.
Also Read :- Whats App Pay India chief quits within 4 months of taking charge. What’s Wrong With Tech Giant- Meta?
What’s with Tech Layoffs in 2022 and Adobe Job Cuts?
According to Bloomberg, Adobe is giving affected employees the chance to find other jobs inside the software giant. The company responded in a statement to the publication that it has eliminated “a limited number” of jobs while moving “certain individuals to positions that support essential priorities.”
According to the statement, “Adobe is not conducting corporate-wide layoffs, and we are still recruiting for important roles.” Notably, Adobe revealed in September that it will pay almost $20 billion in cash and stock to acquire Figma, a top web-first collaborative design platform. When the business bought Figma, it said that “Adobe and Figma would usher forth a new era of collaborative innovation.” With the acquisition, the company intends to reach small-scale firms because its primary products are geared toward experts and artists.