International graphic design online platform Canva to cut 22% of workforce
The company promises a minimum of six months' salary, one year of insurance, and a $10,000 grant for starting a business
In a letter to employees, Canva CEO Melanie Perkins explained the decision by stating that the company's business growth had slowed for the first time in a decade. According to her, product releases were also delayed due to the high number of approvals required between teams.
Canva plans to merge the Product, Growth, and Platform divisions into a larger structure, reduce the number of management levels, and relocate more product teams to the Sydney office. Starting January 2027, hybrid employees will be required to work there two or three days a week.
Those laid off will receive at least six months' salary and any amounts mandated by local legislation. Additionally, they will be allowed to keep their work MacBooks, retain medical insurance for 12 months in countries where such a program exists, and receive a year of LinkedIn Premium. Support also includes career counseling, job search assistance, and a $10,000 grant for a business or community project.
Among those affected by the layoffs was a content curator from Pexels in the London office. She was in the UK on a Skilled Worker visa, sponsored by her employer, and now has 60 days to find official employment. The employee noted that Canva has not yet disclosed all details of the compensation package.
In August, the company reduced its revenue growth forecast for 2026 from 30% to 20% and slowed the release of new AI features after discovering that their operation was more expensive than expected.
