CANVA TO CUT MORE THAN 1000 JOBS IN ‘HARDEST MOMENT' OF ITS HISTORY

Summary from the TLDR Design newsletter

Canva is restructuring 1,271 roles, affecting 22 percent of its workforce, after its growth slowed this year for the first time in a decade. Chief executive Melanie Perkins called it the hardest moment in Canva's thirteen-year history, announcing a merged product organization with fewer management layers. Departing staff receive at least six months' salary, and the cuts follow Canva slashing its own valuation to US$31 billion.