Last Update: March 10, 2023, 14:16 IST
Adobe wants to be an exception in the industry
Many tech companies have decided to lay off people, including the big ones, but what is Adobe’s plan?
Keeping up with the trend of layoffs that has affected companies across the spectrum, software major Adobe has said it will not undertake company-wide layoffs.
Unlike other Silicon Valley tech giants, Adobe won’t be undertaking any mass layoffs this year, according to its chief public officer, Gloria Chen.
In an interview with Bloomberg Television, she said that “we are committed to not having company-wide layoffs.”
“We’re really committed to continuing to grow here,” Chen said, as Adobe opened its fourth office in San Jose, California, with capacity for 3,000 employees.
In December, Adobe laid off nearly 100 employees from its sales team amid poor global macroeconomic conditions.
Adobe said the company “transferred some employees to positions supporting important initiatives” and eliminated a “small number” of other jobs.
“Adobe is not conducting company-wide layoffs and we are still recruiting for key roles,” the software major said in a statement.
Adobe will post its Q1 quarterly earnings results on March 15.
The company projects revenue of $4.53 billion in the fourth quarter of FY2022, showing a growth of 10 percent year-on-year.
Adobe projects revenue of $17.61 billion in fiscal year 2022, representing 12 percent year-over-year growth.
“Adobe achieved record revenue and operating income in fiscal 2022,” said Shantanu Narayen, Adobe’s chairman and CEO.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)
