business
Canva to cut 1,271 jobs in Australia in major restructure
Canva is cutting 1,271 jobs in Australia in a major restructure.
Key points
- Canva announced the job cuts on Wednesday.
- The 1,271 affected jobs are in Australia.
- The cuts equal 22 per cent of Canva's staff, according to the article.
Why it matters. The restructure affects 22 per cent of Canva's staff, a scale the article says shows that something big is happening at the company.
Canva announced on Wednesday a major restructure that will hit 1,271 jobs in Australia. The article says the cuts affect 22 per cent of the design software giant's staff and calls the move a brutal reset. Canva is an Australian multinational software company launched in 2013 that offers a graphic design platform.
Latest updates
Canva to cut 1,271 jobs in Australia in major restructure
Canva, the Australian graphic design software company, announced on Wednesday that it will cut 1,271 jobs in Australia. The scale of the reduction has drawn attention across the country's technology sector. Commentators have noted that the company's restructure reflects a broader shift among technology firms that are reassessing their workforces. The Australian Financial Review reported that the cuts could also affect superannuation funds with exposure to the company. Canva has not yet publicly detailed the timing or allocation of the job losses in the material available.
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.