Published • loading... • Updated
Canva Swings Axe, 1200 Jobs Affected
Melanie Perkins said the company needs to refound Canva as growth slowed for the first time in a decade.
- 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.
Insights by Ground AI
11 Articles
11 Articles
Sydney Morning Herald+4 Reposted by 4 other sources
Canva to cut more than 1000 jobs in ‘hardest moment’ of its history
The design giant has announced a major restructure and will axe around 20 per cent of its workforce.
·North Sydney, Australia
Read Full Article
Coverage Details
Total News Sources11
Leaning Left4Leaning Right3Center3Last UpdatedBias Distribution40% Left
Bias Distribution
- 40% of the sources lean Left
40% Left
L 40%
C 30%
R 30%
Factuality
To view factuality data please Upgrade to Premium
