News Karnataka
Friday, December 08 2023

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

Adobe won't do mass layoff, says its chief people officer
Photo Credit : IANS

an Francisco: Bucking the layoff trend that has hit companies across the spectrum, software major Adobe has said it will not perform company-wide layoffs.

Unlike other Silicon Valley tech giants, Adobe will not do any mass layoffs this year, according to its Chief People Officer Gloria Chen.

In an interview with Bloomberg Television, she said that “We are committed to not having company-wide layoffs.”

“We’re actually committed to continuing to grow here,” Chen said, as Adobe opened its fourth office, based in San Jose, California which has a capacity for 3,000 employees.

In December, Adobe laid off some 100 employees from its sales team amid the rough global macroeconomic conditions.

Adobe said that the company “shifted some employees to positions that support critical initiatives” and removed “a small number” of other jobs.

“Adobe is not doing company-wide layoffs and we are still hiring for critical roles,” the software major had said in a statement.

Adobe will post its Q1 quarterly earnings results on March 15.

The company achieved revenue of $4.53 billion in its fourth quarter of the fiscal year 2022, which represents 10 per cent year-over-year growth.

Adobe achieved revenue of $17.61 billion in the fiscal year 2022, which represents 12 per cent year-over-year growth.

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

Read more:

CFOs warn about layoff in education sector later this year

Hackers use phishing, malware to target job seekers 

Nike workers hit by layoffs write about ‘unexpected life event’

Chinese telecom equipment maker ZTE begins layoffs

Amazon CEO confirms more layoffs coming in early 2023

Share this:
Support NewsKarnataka's quality independent journalism with a small contribution.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Editor's Pick

Find the best odds at 10Cric and IPL Betting 2023! Signup today and get up to a 100% deposit bonus.

To get the latest news on WhatsApp