Adobe Inc. recently cut 100 jobs — primarily in its sales department — joining a growing list of companies in the tech sector making cost-saving measures.
Affected employees were given the opportunity to find other positions at the San Jose-based software company and Adobe said that the decision included shifting “some employees to positions that support critical initiatives” and cutting “a small number” of other jobs.
“Adobe is not doing companywide layoffs and we are still hiring for critical roles,” the company said.
Adobe’s job cuts represent a much smaller piece of the tech industry’s recent restructuring: Meta Platforms Inc. announced last month that it would cut 11,000 jobs, while Cisco Systems Inc. announced a job reduction affecting 4,100 employees.
In November alone, nearly 50 Bay Area-based companies announced layoffs of at least 35,073 people, according to a Business Journal analysis, making Adobe’s recent move in line with a general strategy that it’s time to tighten spending amid economic uncertainty.
Adobe said in a regulatory filing that at the end of its third quarter on Sep. 2 that it employed more than 28,700 people.
Adobe’s job cuts come after the company announced plans to buy San Francisco-based software design business Figma Inc. for $20 billion. The U.S. Department of Justice has launched an investigation of that deal for potential antitrust issues.
The company is slated to report results for its fiscal fourth-quarter results on Dec. 15. Its stock has dropped by 42% this year amid a slump in the tech sector. Bizjournals