Adobe has reportedly laid off nearly 100 employees, mainly from the sales team. The cuts were made to reduce expenses, though the scale is far less than the thousands of job losses at Amazon, Meta, and Twitter. The company employed nearly 28,700 workers, as per its Q3 2022 financial report. Adobe is not the only tech company tightening its grip amid uncertain macroeconomic conditions. Not only Adobe but some Indian tech firms such as Byju’s, Josh, and HealthifyMe have also laid off hundreds of employees in the last few weeks.
As reported by Bloomberg, Adobe is providing opportunities for impacted workers to find other positions at the software company. In a statement to the publication, 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 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 deal is being investigated by the US Department of Justice for anti-trust violations. It is unclear whether the company will lay off more employees in the coming weeks and months. The company is scheduled to report fiscal fourth-quarter results on December 15.
As mentioned earlier, Adobe isn’t the only tech company taking harsh measures to reduce expenses. Twitter, following Elon Musk’s takeover, has fired nearly half of its workforce. Amazon and Meta have laid off workers in large capacities, and the companies may take harsher steps if situations don’t improve.