Canva announces major job cuts after 'our hardest year yet'
Canva, one of Australia's best known start-ups, has announced a shake up of the business that will affect 22% of its workers, including job cuts.
TL;DR
- Canva is reducing its workforce by 22%, impacting 1,271 employees.
- This decision is described as the 'hardest moment' in the company's thirteen-year history.
- The company has faced challenges due to concerns about AI's impact and rising technology costs.
- Canva's valuation has reportedly dropped in the past year.
- Sydney will become a primary home for more product teams.
- Hybrid workers will be expected to spend two to three days in the office starting next year.
- CEO Melanie Perkins cited slowed growth for the first time in a decade.