Canva Cuts 1271 Jobs in Restructuring Affecting 22 Percent of Staff

Canva is cutting twelve hundred seventy-one jobs in a massive restructuring that affects twenty-two percent of its global workforce. Co-founder and CEO Melanie Perkins called it the hardest moment in the thirteen-year history of the company. Some workers will also be asked to relocate or change their roles as Sydney becomes the primary home for more product teams. Hybrid employees will need to come into the office two to three days a week starting next year. The shake-up follows soaring artificial intelligence expenses and slowing growth for the first time in a decade. Backers have reportedly downgraded the firm valuation from sixty billion Australian dollars down to forty-nine billion, though one source puts the cut slightly differently at forty-one point eight billion. Perkins told staff the business faced its hardest year yet as new technology transforms what people expect from design tools.