Technology
Canva Announces 22% Workforce Reduction Amid AI‑Driven Restructuring
Canva announced a major restructuring that will affect 1,271 employees, representing 22% of its workforce, following a report of unannounced job cuts earlier this week. The move comes as the company adjusts to the AI era, after it cut its revenue growth forecast in August due to higher-than-expected costs of delivering AI features. The restructuring is described as the biggest transformation plan undertaken by an Australian startup. The company’s slowing growth is attributed to the challenges of developing software in the age of AI compared to the traditional SaaS model.
Frequently asked questions
How many employees will be affected by Canva's restructuring?
Canva's restructuring will affect 1,271 employees, representing 22% of its workforce.
Why did Canva cut its revenue growth forecast in August?
Canva cut its revenue growth forecast in August due to higher-than-expected costs of delivering AI features.
What makes Canva's restructuring significant?
The restructuring is described as the biggest transformation plan undertaken by an Australian startup, adjusting to the AI era.