WASHINGTON (dpa-AFX) - Canva plans to eliminate 1,271 jobs, representing 22 percent of its workforce, as the design software company responds to slowing growth and rising artificial intelligence costs.
Co-founder and CEO Melanie Perkins told employees that growth had slowed for the first time in a decade, making organisational changes necessary for the company's next phase.
The restructuring will combine Canva's product, growth and platform teams to improve coordination and reduce communication barriers. The company also plans to reduce specialised roles, potentially expanding employees' responsibilities, and introduce a hybrid working model requiring staff to attend offices several days a week.
Canva has also lowered its revenue growth forecast to 20 percent from 30 percent amid rising AI expenses. The company faces increasing competition from AI startups and tools such as ChatGPT and Gemini, which offer image-generation capabilities for creating presentations and promotional materials.
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