0.9 C
New York
Friday, February 3, 2023

Chinese Spy Balloon Found Hovering Over Montana, Pentagon Confirms

The Pentagon has confirmed reports of a...

Police Confirm Fatal Shooting of Armed Man in Memphis Library

Authorities have confirmed that a man was...

Mbappé Misses Penalties, Injures in PSG Victory

Kylian Mbappe had a night to forget...

Adobe has announced that they will be firing 100 workers, but they will not be doing layoffs company-wide

BusinessAdobe has announced that they will be firing 100 workers, but they will not be doing layoffs company-wide

In response to the challenging state of the global economy, the software giant Adobe has dismissed around one hundred members of its sales force.

Adobe has released a statement in which it claims to have “relocated certain workers to roles that support essential priorities” and that the business has also eliminated “a limited number” of other jobs.

Adobe has issued a statement saying that the business will not be doing layoffs across the whole workforce and that it will continue to recruit for key positions.

Even though the number of positions cut at Adobe is far lower in contrast to those at Big Tech, the decision is being seen as a sign that the global catastrophe is now hurting the firms on a more fundamental basis.

The news of the layoffs at Adobe was originally reported by Bloomberg.

Adobe had a record-breaking quarter in the third fiscal quarter, bringing in revenue of $4.43 billion, which is an increase of 15 percent over the previous year.

Adobe CEO Shantanu Narayen was quoted as saying that “in this digital-first era, Adobe Creative Cloud, Document Cloud, and Experience Cloud have become even more mission-critical to an increasingly broad variety of clients.”

After the software developer Adobe published projections for the next fiscal year that fell short of expectations, but blamed part of the deficit on a stronger dollar and unfavourable foreign exchange rates, Adobe shares increased.

According to what Narayen shared with investors at the ‘Adobe Max 2022‘ conference held in the United States in October, the large software company would, in fact, boost personnel by a lesser proportion than it has in the last several years.

The CEO of Adobe said that the company’s continuing performance in spite of the uncertain financial climate demonstrates that Adobe’s solutions are mission-critical to an expanding client base.

Check out our other content

Check out other tags:

Most Popular Articles