Last Updated: March 10, 2023, 14:16 IST
Adobe needs to be an exception within the trade
Many tech firms have determined to layoff folks, together with the large one however what does Adobe plan to do?
Bucking the layoff development that has hit firms throughout the spectrum, software program main Adobe has stated it is not going to carry out company-wide layoffs.
Unlike different Silicon Valley tech giants, Adobe is not going to do any mass layoffs this yr, in keeping with its Chief People Officer Gloria Chen.
In an interview with Bloomberg Television, she stated that “We are dedicated to not having company-wide layoffs.”
“We’re actually committed to continuing to grow here,” Chen stated, as Adobe opened its fourth workplace, based mostly in San Jose, California that has the capability for 3,000 workers.
In December, Adobe laid off some 100 workers from its gross sales staff amid the tough world macroeconomic circumstances.
Adobe stated that the corporate “shifted some workers to positions that help crucial initiatives” and removed “a small number” of different jobs.
“Adobe isn’t doing company-wide layoffs and we’re nonetheless hiring for crucial roles,” the software program main had stated in an announcement.
Adobe will post its Q1 quarterly earnings results on March 15.
The company achieved revenue of $4.53 billion in its fourth quarter of fiscal year 2022, which represents 10 per cent year-over-year growth.
Adobe achieved revenue of $17.61 billion in fiscal year 2022, which represents 12 per cent year-over-year growth.
“Adobe drove record revenue and operating income in fiscal 2022,” stated Shantanu Narayen, chairman and CEO, Adobe. “Our market alternative, unparalleled innovation, operational rigor and distinctive expertise place us effectively to drive our subsequent decade of progress.”
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(This story has not been edited by News18 workers and is revealed from a syndicated information company feed)
