Yes it does. When we talk about
c, the speed of light, that's the speed of light in vacuum, a constant. In any particular medium, light travels at the speed of light
in that medium. For common materials, the speed of light in that medium is c divided by the
index of refraction. So vacuum would be like an index of refraction of exactly 1. Air slows down light a little. The index of refraction of air is 1.0003.
In water, it's 1.33, so light travels at a speed of only about 75% of c in water. Glass varies, but is around 1.5. Diamond has an index of refraction of 2.42, so light travels at less than half of c in diamonds.
So light going from air into glass slows down, and when it comes back into air, it speeds up.