Canva Announces Major Job Cuts After 'Our Hardest Year Yet'

Global graphic design platform Canva has announced a substantial reduction in its workforce, cutting approximately 22% of its staff following what leadership described as the most challenging year in the company’s history. The restructuring comes as a significant slowdown in revenue growth forces the tech company to reevaluate its operational strategy and cost structure.

According to internal data and industry reports, the company experienced stagnant financial performance amid broader economic headwinds, prompting management to implement sweeping layoffs that could impact over 1,200 employees globally. The decision marks a stark departure from the rapid expansion period the company enjoyed in previous years.

Industry analysts note that the downsizing reflects a wider trend within the technology sector, where firms are prioritizing profitability and leaner operations over aggressive expansion. Affected employees are expected to receive severance packages and career transition support as Canva navigates this difficult transition period.

Sources: BBC

Aggregated summary. Original: BBC