Canva announces major job cuts
The gist
Australian design company Canva will cut, change or relocate 1,271 jobs, 22% of its workforce.
Its growth slowed for the first time in a decade as AI reshapes design.
How it unfolded
- Mar 2025Canva laid off 10 technical writers, its first known redundancy round, nine months after telling employees to embrace generative AI tools.
- Aug 2026Canva changed its 2026 revenue growth forecast from 30% to 20%.
- Aug 31, 2026T. Rowe Price marked down its Canva shares by 20% to US$1,189 per share, implying a valuation of US$30.4 billion.