Canva Layoffs Win Social Media Praise, But Do Generous Severance Packages Tell the Whole Story?
Canva’s decision to cut 1,271 jobs is drawing an unusual response online, with social media users praising the design software company for the support it is offering departing employees. But behind the positive reaction lies a more complicated story of slowing growth, rising artificial intelligence (AI) costs and a changing software business.
The company is reducing its workforce by 22% as part of a broader restructuring announced by co-founder and Chief Executive Officer Melanie Perkins on November 4. The changes come as Canva faces its slowest growth in a decade and reassesses how it operates.
What has caught the attention of employees and users online, however, is the company's approach to those leaving.
Canva has said departing employees will receive at least six months' salary, including statutory entitlements, regardless of location. The package also includes up to 12 months of continued healthcare coverage in countries where the benefit is available,...
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