Canva Announces Job Cuts Affecting 22 Percent Of Workforce
· Business · BBC News, Times of India
Canva, the Australian design platform, is cutting 1,271 jobs as part of a major business restructuring. CEO Melanie Perkins described the move as the hardest decision in the company's 13-year history, citing a slowdown in growth and rising costs associated with integrating artificial intelligence. The firm also plans to centralise product teams in Sydney and implement a hybrid work policy requiring office attendance two to three days a week. Recent reports indicate that investors have downgraded Canva's valuation from A$60 billion to approximately A$49 billion amid these financial pressures.
Why it matters
The layoffs signal a broader trend of tech companies recalibrating their business models and valuations in response to the high costs of AI adoption and slowing global growth.
Read the original report — BBC News
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