Canva lays off 1,271 employees after hardest year in history
The company is providing affected staff with six months' salary, laptop retention, and career support following the workforce reduction.
Canva announced on Tuesday, November 3, that it has laid off 1,271 employees, which represents 22 per cent of its total workforce. According to The Federal, CEO Melanie Perkins stated the decision followed the company's most difficult year to date.
The company employs more than 5,700 people across 37 countries, including India, though it has not specified which regions are impacted by the cuts. Perkins expressed her regret in an internal memo regarding the distress and disturbance the move would cause to those involved.
Affected staff will receive at least six months' salary, including statutory entitlements, regardless of their location. The company will also waive its one-year vesting cliff, allowing employees who joined within the last year to qualify for company equity.
To assist with the transition, Canva is letting departing employees keep their MacBooks. Additional benefits include a one-year LinkedIn Premium subscription, individual career coaching, and interview preparation provided by the talent acquisition team.
The company will also maintain healthcare coverage for 12 months in applicable countries and provide access to Canva Care for employees and their families. An opt-in alumni directory is being created to connect former staff with industry contacts.
Through the Canva Collective Fund, the company will offer $10,000 grants to individuals starting businesses or community projects, without claiming equity in their work. Employees have until December 14 to register their interest in these grants.