Australia's Canva to cut about 22% of staff as growth slowdown triggers restructuring

Nov 4 (Reuters) - Australian graphic design platform Canva Group said on Wednesday it would cut 1,271 jobs, or about 22% of its workforce, as part of a restructuring after growth slowed for the first time in a decade.

The Sydney-based company is the latest technology firm to reduce headcount as the sector adapts to rapid advances in AI and changing business needs.

Here are more details:

• Co-founder and CEO Melanie Perkins said the changes would reshape Canva's organisational structure, team locations and staffing requirements

• Canva is combining its product, growth and platform teams into a single product organisation aimed at reducing handovers and giving teams greater ownership

• It is also simplifying management layers and consolidating roles to improve accountability and decision-making

• Canva plans to make Sydney the main base for more of its product teams and will ask some employees to relocate. From January, most hybrid workers will be expected to attend the office two to three days a week

• The graphic design firm will also provide $10,000 grants to departing employees for future endeavours

• Enterprise software company Atlassian TEAM.O cut 1,600 jobs in March to fund further investment in AI and enterprise sales

• In February, software company WiseTech Global WTC.AX cut nearly a third of its global workforce as part of a two‑year restructuring that could rank among the country's largest AI-linked job cuts