According to Adobe's fiscal third quarter 2022, the firm has about 28,700 employees. The majority of those let go were from the sales department. Adobe says it is not doing companywide layoffs and it is still hiring for critical roles.
According to reports, Adobe has terminated the employment of over one hundred of its staff members, the vast majority of whom were employed in the company's sales department. Despite the fact that the layoffs were carried out in an effort to save costs, their scope is far less extensive in comparison to the hundreds of roles that were eliminated at Amazon, Meta, and Twitter. The United States was the location where the employees were let go. The report of the firm's finances for the third quarter of 2022 indicates that the number of employees at the company is quite close to 28,700. Adobe is not the only technology business that is working to strengthen its position in the face of adverse circumstances in the macroeconomic environment. Over the course of the last several weeks, Adobe and a number of other information technology companies based in India, including Byju's, Josh, and HealthifyMe, amongst others, have been held accountable for the firing of a combined total of several hundreds of workers.
According to a report that was distributed by Media, Adobe is giving employees who have been adversely impacted by layoffs the opportunity to look for new opportunities inside the software firm itself. Adobe has released a statement in which it explains that it has "reassigned certain individuals to roles that support essential objectives" and that the business has also terminated "a limited number" of other employment jobs. These changes were made in response to the company's recent restructuring. The message was sent to a number of different news sources.
According to the statement, Adobe will not be carrying out layoffs throughout the whole organisation, and the company will continue searching for skilled individuals to fill essential tasks.
Notably, Adobe made the news in September that the business would be purchasing Figma, a prominent web-first collaborative design platform, for around $20 billion in cash and shares. This development is notable since the price tag for this acquisition is significant. This represents a significant new turn of events. This is a very significant new turn in the events that have been taking place. The following statement was given by the firm at the time when the acquisition was being finalised: "The combining of Adobe and Figma will herald in a new age of collaborative innovation." In spite of the fact that the vast majority of the products offered for sale by the company are intended for professionals and industry experts, the company believes that the purchase will enable it to expand its customer base to include smaller businesses.
On the other hand, the transaction is being scrutinised by the Department of Justice in the United States to see whether or not it may have violated anti-monopoly rules. We do not have sufficient information to determine whether or not the firm will be forced to let go of further employees in the coming weeks and months since it is still unclear whether or not other workers will be laid off. On December 15 of this year, the organisation intends to make public the financial results that were obtained during the fiscal fourth quarter of the current fiscal year.
In order to lower their operational costs, Adobe is not the only technology business that is resorting to extreme techniques, as was said before. Following Elon Musk's purchase of Twitter, over half of the company's employees have been terminated from their jobs within the organisation. Amazon and Meta have both let go of a substantial number of employees, and if the existing state of things does not improve, the corporations may take other, more severe actions to address the situation.
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