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Canva Cuts Jobs and Relocates Staff in Restructure Affecting 1,271 People
Canva is cutting and relocating staff in a restructure affecting 1,271 people, or 22 per cent of its headcount.
Key points
- Impacted staff will receive at least six months' salary, plus a year of continued healthcare coverage.
- Canva will launch a fund offering US$10,000 grants to departing staff who want to start businesses or give back to communities.
- From January, most hybrid staff will be expected to spend two to three days in the office.
Why it matters. The restructure comes amid concerns that design firms may lose business to an increasingly competitive artificial intelligence industry.
Sydney-based Canva is reshaping its workforce, with as many as 1,271 staff, or 22 per cent of its headcount, hit by layoffs, role changes or relocations, founder Melanie Perkins said in a company-wide note on Wednesday. Perkins wrote that growth has slowed for the first time in a decade and called it the hardest moment in the firm's thirteen-year history. Impacted staff will receive at least six months' salary plus a year of continued healthcare coverage.
Latest updates
Canva Cuts Jobs and Relocates Staff in Restructure Affecting 1,271 People
Sydney-based design software company Canva is restructuring, with as many as 1,271 staff, or 22 per cent of its headcount, affected by job cuts, role changes and relocations. Founder and chief executive Melanie Perkins announced the changes in a company-wide note on Wednesday. Some roles will be cut while others will be relocated, and staff have been asked to move overseas as part of the streamlining effort. Canva is widely described as Australia's most valuable private company, which makes the scale of the cuts notable for the country's technology sector. The move comes amid wider shake-ups across the tech industry. The reports did not give a breakdown of how many roles fall into each category.
Canva Revenue Falls Short of Target as Job Cuts Loom
Canva's senior leadership and human resources teams met at its Surry Hills headquarters on Tuesday to discuss staff lay-offs. Confidential internal data show the company is struggling to grow revenue and is losing active users. Canva had set a "2026 foundation goal" of reaching US$5.2 billion in annualised revenue, excluding tax. The company is valued at US$31 billion, or about A$44 billion. The report is based on internal figures seen by the Australian Financial Review, and Canva has not publicly confirmed the planned cuts.