Canva reveals major restructuring potentially affecting over a thousand jobs (www.techradar.com)

Canva has announced a significant restructuring plan that may impact over 1,200 employees, or 22% of its workforce. Co-founder and CEO Mel Perkins described this as "the hardest moment in our thirteen-year history," attributing the layoffs to a complicated organizational structure developed during rapid growth. The restructuring aims to merge several product teams into a unified Product organization, streamline management roles, and enhance operational efficiency, moving Canva closer to a model more commonly adopted by other tech giants. In addition to the layoffs, Canva is transitioning its primary product development activities to Sydney, prompting some employees to relocate. The company plans to support affected workers with generous severance packages, including six months' salary and healthcare coverage, as well as grants to foster new business ideas. On the technical front, Canva continues to innovate in AI, reporting notable improvements such as a 90% reduction in task costs and significantly faster processing times. This ongoing focus on AI development, combined with a growing user base of 250 million, positions Canva for continued revenue growth amid a challenging transition period.