- 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.
