Adobe Lays Off 100 Jobs In Latest Of Silicon Valley Cutbacks
Photo 42630788 © Tomnex | Dreamstime.com
Not even Adobe is safe from the economic retouch sweeping companies like Meta and Amazon. Since November 1, Bay Area-based tech firms have dismissed at least 44,000 jobs in anticipation of tightening financial strains.
Bloomberg cites a source familiar with the move that the creative software behemoth has laid off 100 employees, with the sales department taking the biggest hit.
The report mentions that affected workers were apparently offered the option to switch to other positions within the company. Meanwhile, some employees have had their roles swapped to handle more “critical initiatives,” and “a small number” of non-sales positions have been implicated.
Adobe recruited more than 28,700 employees at the end of the fiscal third quarter.
While 100 lost jobs are a small dent in comparison to that, and are just a smidge juxtaposed with the wide-scale staff cuts imposed by several tech giants (including, heavens forbid, Twitter), it goes to show how volatile an industry can be.
Adobe emphasizes that it is not experiencing an especially turbulent time, defending that there are no company-wide dismissals. In fact, it adds that it is still recruiting for “critical roles.”
Far be it from the company to say it is enjoying a good year, as Bloomberg notes Adobe stock has dipped 42% in 2022 as a result of a dry spell in the software industry. The firm is set to report its Q4 fiscal earnings this December 15.
[via DIY Photography and Bloomberg, cover photo 42630788 © Tomnex | Dreamstime.com]
