Canva announces workforce reduction affecting over 1,200 employees
Design platform Canva is implementing a restructuring plan that will impact approximately 22% of its workforce, equating to more than 1,200 employees. The move, described by co-founder and CEO Melanie Perkins as the company’s “hardest moment” in its 13-year history, comes amid slowing growth and the financial pressures of integrating artificial intelligence into its products.
Perkins stated that the changes will involve role modifications, relocations to centralized hubs, and, regrettably, job losses. The company’s growth has reportedly slowed for the first time in a decade, contributing to the need for this restructuring.
Canva’s valuation has decreased from A$60 billion to roughly A$49 billion.
In a message to employees across 37 countries, Perkins emphasized the difficulty of the decision and the support the company will provide to affected individuals, including at least six months’ pay, 12 months of healthcare and mental health support, career coaching, and job-search assistance. Employees will also retain their company laptops and access an alumni network.
A grant program of up to $10,000 is being offered to employees who wish to start businesses or community projects.
Sydney will become a primary hub for product teams, and employees currently working under hybrid arrangements will be required to work in the office two to three days per week starting next year. Canva, founded in 2013, provides design tools and templates for visual content creation.
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“Canva says 22% of its workforce faces job cuts after ‘hardest year yet’”
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