Adobe intends to use the space for its remote workers based out of Atlanta to come together and meet as needed. It’s not just space for administrative offices — Adobe has high-visibility in a development with heavy foot traffic.
Adobe intends to use the space for its remote workers based out of Atlanta to come together and meet as needed.
Around 150 to 200 employees of Adobe’s global workforce of 29,000 are based in Atlanta. Adobe believes a physical presence in Atlanta could bolster Adobe’s “competitive advantage” for recruiting new employees, said Scott Ekman, the company’s vice president of workplace strategy and site operations. Colony Square was chosen because of Midtown’s ability to attract future talent. The office has high visibility in a development with heavy foot traffic.
The space is the first of its kind for Adobe to test the impact of physical presence in markets where it has an established base of remote employees and enterprise customers, according to a statement from Jonathan Francom, vice president of employee and workplace solutions.
Adobe is proceeding with its buildout during a transitional period for office leasing in the tech sector.
Over the last two years, tech companies had continued expanding in Atlanta’s office market, even with hybrid work models. But facing revenue shortfalls and the continued push to work from home, some began giving back space as a way to cut costs and streamline operations. Others, like Microsoft Corp., paused expansion activity altogether.
Others are taking a different approach and requiring employees to return to the office. Though not a tech firm, UPS Supply Chain Solutions Inc. is an example of this.
Overall, tech companies are still trying to figure out their long-term space needs since the five-day work week is no longer a reality.
Adobe is headquartered in San Jose, California. Following the footsteps of other tech companies tech companies with space in Atlanta, like Intel Corp., Adobe eliminated about 100 jobs in December to reduce expenses.
But this quarter, the company reported a 13% year-over-year growth in its revenues, which was $4.66 billion. Part of the reason for the growth: “We are living in a visual digital-first world where content creation and consumption are exploding […]. As a result, more and more people are turning to Creative Cloud,” said Dan Durn, Adobe’s chief financial officer, during a March earnings call.
Resource: www.bizjournals.com