Graphic design software company Adobe is preparing to raise pay by about 10% to compensate for a gender pay disparity, the company said on Monday.
The wage gap between men and women in the US is around $4,000 per year, and it’s larger for senior designers and software developers.
In a statement, Adobe said it would add about 20% more senior designers, engineers and other “senior and senior-level roles” to the ranks of its female workforce to offset the gender pay pay gap.
The increase in pay for senior staff comes after a year in which the company was one of the fastest growing tech companies in the world.
Adobe’s CEO, Adobe Chief Executive Officer Greg Jacobs, said in a statement the company would pay the pay gap in half a decade.
“This is a critical time for us to move forward,” Jacobs said.
The new salary increases are part of the Adobe’s $2 billion hiring spree in the first quarter of this year.
The company has been looking for ways to boost its revenue and boost its margins, which have been hurt by the tech boom and sluggish consumer spending.
Jacobs also announced plans to hire 500 more women to its ranks by the end of the year.