Canva cuts 1,271 jobs, 22% of staff, as growth slows
Briefing by News4U · First published
TechCrunch reports that Canva is cutting 1,271 jobs, or 22% of its staff, as the company faces slowing growth for the first time in a decade and rising AI costs. CEO Melanie Perkins told employees the firm is merging product, growth and platform teams, reducing subspecialisation, and moving toward hybrid work. The company has also lowered its revenue growth forecast to 20% from 30%, leading early investors to cut its valuation to about $35 billion. [1]
Sources
- Canva lays off over 1,200 people amid slowing growth
TechCrunch · · Full text