"Even if People Are Laid Off, Photoshop Must Be Used" No Adobe Restructuring

Cost-Cutting and Layoff Trends Contrast with Big Tech
Adobe "Striving to Avoid Company-Wide Layoffs"

While major US big tech companies are reducing office space and undergoing large-scale restructuring, Adobe, the company behind Photoshop, is taking a different approach.

On the 8th (local time), Adobe announced the opening of a new office tower in San Jose, California. This tower is Adobe's fourth headquarters, standing 18 stories tall with an area of approximately 116,000 square meters (35,000 pyeong), capable of accommodating 3,000 employees.

[Image source=Pixabay]

The building's construction began in 2019, before the COVID-19 pandemic, and continued despite most closures during the 2020 pandemic. It opened four years after groundbreaking.

Recently, other big tech companies such as Meta Platforms, Microsoft (MS), Amazon, and Google have been cutting costs in response to poor performance and economic uncertainty. They have laid off about 10% of their total workforce and reduced office space. Amazon halted construction of its second headquarters building planned in Arlington, Virginia.

However, Adobe announced that there will be no company-wide layoffs this year. Gloria Chen, Adobe's Chief People Officer, said, "We remain committed to continued growth and are trying to avoid company-wide layoffs."

She added, "How people work still depends on managers," and "We do not believe flexible and hybrid work arrangements are permanently defined, so we are constantly experimenting."

In the fourth quarter of last fiscal year (September to November), Adobe recorded $4.53 billion in revenue and $3.60 in earnings per share, surpassing market expectations.

This content was produced with the assistance of AI translation services.