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

Adobe Inc (NASDAQ: ADBE) slashed close to 100 jobs, concentrated on sales, taking a leaf out of its peers in using staff cuts to reduce expenses.
byAnusuya Lahiri
December 7, 2022
1 minute read
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  • Adobe Inc (NASDAQ: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 (NASDAQ:AMZN) and Meta Platforms Inc (NASDAQ: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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