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Canva’s generous exit package praised after 1,271 job cuts
Canva chief executive Melanie Perkins has announced that the company will cut 1,271 jobs, about 22 per cent of its workforce, citing new technology and rapid change. The cuts affect staff in 37 countries, and the support offered to departing employees has drawn praise for its scale and tone.
The package includes at least six months’ pay, a year of healthcare cover and LinkedIn Premium, and staff can keep their work MacBooks. Canva is also setting up a fund for former employees who want to start businesses, without taking equity in their projects. The company’s valuation has been reduced by backers from $41.8 billion to $34 billion amid AI-related costs; industry tracker TrueUp says more than 204,000 tech workers have been laid off worldwide.
In short
- Canva is cutting 1,271 jobs, or 22 per cent of its workforce.
- Departing staff will receive at least six months’ pay and a year of healthcare.
- A new fund will support former employees starting businesses.
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Originally published by Daily Mail as “CEO is celebrated for laying off 22% of staff after offering incredibly generous severance including at least six months’ pay and a year’s healthcare”.