Adobe Reportedly Laying Off 15%
November 10, 2009
Reports are circling around the web that San Jose-based Adobe (ADBE: 29.42 +1.98%) is having layoffs today. Some (unconfirmed) reports put the number at up to 15% of staff (this likely includes contractors).
We will be hearing of deals getting done over the next few quarters, some fairly big, but the thing to keep in mind is whether the demand and deals represent positive absorption. Deals getting done are a natural part of any cycle, but it is positive absorption that will constitute the true strength of the recovery. With fairly significant scale layoffs still taking place, positive absorption should remain lax, but the positive spin is that valley companies will be lean and leasing will pick up faster than most anticipate once we’re out of the woods.
[via TechCrunch]
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Tags: Adobe Systems, Layoffs, Office Space, San Jose
Adobe’s employees are highly paid. I read somewhere that they make 250K or more in a year. So I don’t believe the laid off employees are going to be hit hard or short of cash to splurge on expensive things. So Don’t shed a tear for these emps to be laid off. They will take a nice vacation,cruise before they start looking for another job that pays atleast 250K or more. It is entirely impossible to guess that Adobe is hiring emps in India to replace these laid off workers.