Adobe won’t do mass layoffs, says its chief people officer

Bucking the layoff pattern that has hit tech firms throughout the spectrum, software program main Adobe stated it is not going to announce company-wide layoffs.

Unlike different Silicon Valley tech giants, Adobe is not going to do any mass layoffs this 12 months, its chief folks officer Gloria Chen advised Bloomberg Television.

“We are committed to not having company-wide layoffs. We’re actually committed to continuing to grow here,” Chen stated, as Adobe opened its fourth workplace, primarily based in San Jose, California that has the capability for 3,000 staff.

In December, Adobe laid off some 100 staff from its gross sales workforce amid the tough international macroeconomic situations.

Adobe stated the corporate “shifted some employees to positions that support critical initiatives” and eliminated “a small number” of different jobs.

“Adobe is not doing company-wide layoffs and we are still hiring for critical roles,” the software program main had stated in an announcement.

Adobe will submit its Q1 quarterly earnings outcomes on March 15.The firm achieved income of $4.53 billion in its fourth quarter of fiscal 12 months 2022, which represents 10% year-on-year progress.

Adobe achieved income of $17.61 billion in fiscal 12 months 2022, which represents 12% year-on-year progress.

“Adobe drove record revenue and operating income in fiscal 2022,” stated Shantanu Narayen, chairman and CEO, Adobe. “Our market opportunity, unparalleled innovation, operational rigor and exceptional talent position us well to drive our next decade of growth.”

Tech layoffs

After the pandemic growth of some years, expertise firms ended 2022 with a bleak outlook. Across the sector hundreds of jobs had been minimize to appropriate the over-hiring of the Covid interval, and brace for, what consultants name, a interval of slower progress for the sector.

The layoff wave has swept not solely startups and mid-sized companies, but in addition large tech firms corresponding to Amazon, Microsoft, and Google guardian Alphabet, amongst others.

Twilio, LinkedIn, Zoom, Dell, Pinterest and Tinder proprietor Match are amongst firms which have joined the layoff bandwagon extra just lately in a bid to rein within the prices amid a looming international financial downturn.

Here’s a listing of main tech companies which have introduced layoffs

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