Canva Reduces Workforce by 22% Amid Growth Slowdown

Australian graphic design platform Canva Group announced on Wednesday that it will eliminate 1,271 jobs, representing roughly 22% of its total employees. The company stated that the restructuring comes after experiencing its first decade of slowed growth.

Co-founder and CEO Melanie Perkins explained that the adjustments will alter the firm's organizational structure, staffing needs, and team locations. As part of the changes, Canva is merging its growth, product, and platform teams into a single unit to minimize handovers and increase team ownership.

The Sydney-headquartered company also intends to streamline management layers and consolidate positions to enhance accountability. Furthermore, Canva will establish Sydney as the principal base for a larger portion of its product teams, asking certain workers to relocate, and expects most hybrid staff to work from the office two to three days a week starting in January.

Departing employees will receive $10,000 grants from the graphic design firm to assist with future pursuits. Canva joins other technology firms in reducing staff as the sector adjusts to rapid technological shifts.