Australia's Canva to cut 22% of jobs as growth slows for first time in a decade
The company will merge product teams, simplify management layers and offer affected staff six months' salary plus healthcare and career support.
- On Wednesday, Canva co-founder and chief executive Melanie Perkins announced a major restructuring affecting 1,271 jobs, or 22 per cent of the company's workforce, as the Sydney-headquartered design giant seeks to "refound Canva."
- Perkins told staff the decision followed a year of slowing growth, the first such decline in a decade; the company aims to "return to small, empowered teams" with freedom to make decisions and take ownership.
- Departing employees will receive at least six months' salary, 12 months of healthcare, and $14,500 grants for new ventures, while Canva merges product, growth, and platform teams with Sydney as the primary hub.
- Investor concerns regarding AI's impact on software businesses coincide with mounting valuation pressure, as Blackbird, the company's largest venture backer, cut its valuation by 17 per cent to $34.9 billion in August, matching a reduction by Airtree.
- Hybrid staff will be expected in the office two to three days a week from January to help the company "move faster" against rivals like Figma, as Canva streamlines operations to maintain market relevance.
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‘The hardest moment in our thirteen-year history’: Canva cuts jobs
Canva is restructuring in a way that affects 1,271 people, or 22% of the company. Some staff will lose their jobs, others will change roles and some will be asked to relocate. Co-founder and chief executive Melanie Perkins announced the changes in a note to staff on Wednesday, which Canva published. “This is without doubt […] This story continues at The Next Web
Cuts reach 22% of the company's team; changes also include transfer of employees, reduction of hierarchical levels and expansion of face-to-face work.
Canva announces sweeping job cuts after 'hardest year yet'
Design software giant Canva has announced a sweeping restructuring affecting more than a fifth of its global workforce, as slowing growth and mounting AI costs put pressure on the Australian tech company. The shake-up will affect 1,271 employees, equivalent to 22 per cent of its workforce, through redundancies, relocations and changes to existing roles. Co-founder [...]
Canva announces major job cuts and restructuring of its workforce
The changes are expected to impact around 22pc of the organisation’s workforce and are in response to a recent dip in the company's growth. Read more: Canva announces major job cuts and restructuring of its workforce
Amid a wave of corporate layoffs driven by the spread of artificial intelligence (AI), global design platform Canva is embarking on an organizational restructuring that will lay off or reassign more than 20% of its workforce. According to Bloomberg, Canva CEO Melanie Perkins stated in a letter to employees posted on the company website on the 4th (local time) that approximately 1,271 employees, or 22% of the total workforce, will lose their jobs…
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