Adobe's Belt Tightening Affects Far Lesser Workforce Versus Bigger Peers

by Anusuya Lahiri, Benzinga Editor

December 7, 2022 7:27 AM | 1 min read |

Adobe Inc ADBE slashed close to 100 jobs, concentrated on sales, taking a leaf out of its peers in using staff cuts to reduce expenses.
Some of the employees who lost their jobs got the opportunity to find other positions at the software company, Bloomberg reports.
Adobe’s downsizing is far smaller than Amazon.com Inc AMZN and Meta Platforms Inc META.
Also Read: Some Meta Employees Embroiled In Dispute Over Severance Package Promised By Mark Zuckerberg
Adobe employed more than 28,700 people at the end of the fiscal third quarter.
The report specified Adobe acknowledging that it is not doing companywide layoffs and still hiring for critical roles.
In September, Adobe agreed to snap smaller rival Figma Inc for $20 billion.
Price Action: ADBE shares closed lower by 0.88% at $331.15 on Tuesday.

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