Adobe has reportedly laid off 100 employees but the firm confirms that the layoff is not companywide. The organization carried out the layoff process to reduce its expenses.
Quick insights
- Adobe laid off 100 employees, the company confirms it is not a companywide layoff.
- The firm also hired 28,700 workers in FY 2022.
- The layoff is a cost-cutting measure for the company.
As per the 2022 financial reports of Adobe, the firm hired 28,700 workers. Adobe said that the company made a transition to support critical initiatives and therefore had to wipe out a small number of employees.
The laid-off employees are being provided opportunities by Adobe to find jobs at other software companies. Reportedly, Adobe announced that the company would purchase Figma, a leading web-first collaborative design platform.
The firm forecasts that the purchase would bring a new era of collaborative creativity but the deal went under investigation by the US department of justice for anti-trust violations.
Due to this unprecedented event, it is unclear that furthermore, layoffs can be expected or not. Such financial turmoil affects the companies at deeper levels and therefore cost-cutting through a layoff is a widely applied strategy by companies.
However, Adobe is not the only company having laid off employees in the past few weeks, various tech mammoths such as Amazon, and Twitter already have announced large capacity layoffs as a cost-cutting measure. Â
