Graphic design platform Canva will cut 1,271 jobs or about 22 per cent of its workforce as part of a major organisational overhaul aimed at positioning the company for long-term growth, Chief Executive Officer and Co-founder Melanie Perkins said on Wednesday.
NEW DELHI — Graphic design platform Canva will cut 1,271 jobs or about 22 per cent of its workforce as part of a major organisational overhaul aimed at positioning the company for long-term growth, Chief Executive Officer and Co-founder Melanie Perkins said on Wednesday.
In a note to employees published on Canva's official website, CEO Perkins described the move as the hardest moment in the company's 13-year history and said the company had decided to make significant changes to its structure, team locations and future skill requirements after months of deliberation.
The restructuring will affect 1,271 employees globally through role changes, relocations to centralised hubs and job eliminations. Canva said some teams would be consolidated while others would see broader responsibilities as the company seeks to reduce organisational complexity.
Perkins said Canva's growth had slowed for the first time in a decade and that rapid technological change was reshaping customer expectations and product development.
Incremental adjustments would not be sufficient and that Canva needed to refound itself around smaller, more empowered teams, according to her.
As part of the overhaul, Canva will combine its product, growth and platform functions into a single product organisation, reduce specialised roles and management layers, and increase in-person collaboration.
Sydney will become the primary hub for more product teams, while most hybrid employees will be expected to spend two to three days a week in the office from January, according to the Canva CEO.
To support affected employees, Canva said it would provide at least six months' salary, continued healthcare coverage where applicable, career transition assistance, extended employee support services and a $10,000 grant opportunity through a newly launched Canva Collective Fund for eligible departing staff.
Perkins said the changes were designed to ensure Canva remains competitive in the coming decade, while acknowledging the impact on employees leaving the company.