Canva cuts 22% of staff amid AI pressure

The company Canva has announced a major restructuring that will see 1,271 employees laid off, representing 22% of its workforce. This decision marks the most difficult phase in the history of the graphic design platform.

The mass layoffs are attributed to slowing business growth and growing investor concerns regarding the impact of generative artificial intelligence on the market. Company leadership intends to reset the business model to adapt to the new technological reality.

Laid-off employees will be offered extended severance packages, as well as special grants to launch new startups. Top management expects the reorganization to stabilize the company's financial performance in the face of stiff competition.