Canva is cutting 22% of its workforce, laying off over 1,200 employees amid its first growth slowdown in a decade. The company is merging product, growth, and platform teams, reducing subspecialization, and moving toward hybrid work to cut costs. Revenue growth forecasts were slashed from 30% to 20% due to ballooning AI expenses, and investor valuation was already reduced to ~$35 billion.
Background
Canva is a popular online design platform with hundreds of millions of users, valued at ~$35B after recent down rounds. The company has been investing heavily in AI tools to stay competitive against OpenAI's ChatGPT and other AI design startups.
- Source
- TechCrunch
- Published
- Nov 4, 2026 at 07:59 PM
- Score
- 6.0 / 10