Canva to restructure operations, affecting 22% of workforce as growth slows

Key Points:

• Canva is restructuring its operations, impacting 1,271 employees, or 22% of its workforce, due to slowing growth and shifts in the technology industry, with layoffs, role changes, relocations, and increased in-person work requirements.
• The company will merge its product, growth, and platform teams into a single product organization, reduce management layers, and consolidate roles to create smaller, more autonomous teams.
• Sydney will become the primary base for more product teams, and most hybrid employees will be required to work from the office two to three days per week starting in January.
• Affected employees will receive severance packages including at least six months’ salary, 12 months of health care coverage where applicable, removal of vesting cliffs, career support, and up to $10,000 grants for starting businesses or community projects through the Canva Collective Fund.
• Canva’s CEO Melanie Perkins described the restructuring as the company's most difficult moment, with further details expected at a company-wide meeting on November 10.