Zhitong Finance APP learned that Adobe (ADBE.US) has laid off about 100 people, mainly in the sales department, joining the ranks of many other technology companies to cut expenses through layoffs. Some of the employees who lost their jobs were given the opportunity to find other positions within the company, according to people familiar with the matter. Adobe’s layoffs are far smaller than the thousands announced by other tech companies including Amazon (AMZN.US ), Hewlett-Packard (HPQ.US ), Cisco Systems ( CSCO.US ) and Meta (META.US ). According to filing documents, as of the end of the third fiscal quarter on September 2, the company had 28,700 employees.
In a statement, Adobe said it “relocated some employees to positions that support critical projects” and eliminated “a small number” of other positions. “Adobe has not made any company-wide layoffs, and we are still hiring for key positions,” the company said.
Adobe announced in September that it would buy smaller rival Figma Inc. for $20 billion, one of the highest prices ever paid by a private software maker. The U.S. Justice Department is investigating the deal for potential antitrust concerns. Adobe, which has dominated the market for creative software for design professionals, is looking to expand its user base to more casual consumers and small businesses.
The company is scheduled to report fourth-quarter results on Dec. 15. Against the background of a general downturn in the software industry, Adobe shares have fallen 42% this year.
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Event Tracking
- 2022-12-07 Adobe joined the wave of layoffs and slightly laid off about 100 people to cut costs
- 2022-11-03 The U.S. Department of Justice launched an antitrust investigation into Adobe’s acquisition of Figma
- 2022-09-15 Adobe’s third-quarter revenue is 4.433 billion US dollars
- 2022-09-15 Adobe announced the acquisition of online design startup Figma for approximately US$20 billion
- 2022-06-16 Adobe’s revenue in the second fiscal quarter was US$4.39 billion, a year-on-year increase of 14%
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