Canva to cut 22% of workforce amid growth slowdown and AI shift

Australian graphic design platform Canva Group announced on Wednesday that it will cut 1,271 jobs, representing about 22% of its workforce, as part of a restructuring plan.

Co-founder and CEO Melanie Perkins stated the cuts follow a growth slowdown for the first time in a decade as the tech sector adapts to artificial intelligence advancements.

The Sydney-based company will consolidate product and platform teams, require hybrid workers to be in the office two to three days a week, and offer departing employees $10,000 grants.