Canva
Hate to see them go, love to watch what they leave with: The internet is enchanted by a severance package Canva announced this week as part of a massive restructuring that impacts 22% of its staff.
Nearly 1,300 workers will lose their jobs, switch roles, or relocate. Canva didn’t say how many people fall into each category, but:Those leaving will receive at least six months’ pay, one year of healthcare, one year of LinkedIn Premium, career coaching, and access to an alumni network.
Canva will also let them keep their work MacBooks, and it’ll nix its one-year vesting cliff so recent hires can retain their company shares.
“We need more founders like thissss,” one X user wrote about the severance package in a post that garnered 7+ million views. Still, lots of people are losing their jobs, and other internet commenters took issue with the layoffs, which come amid Canva’s broader AI pivot.
“This has been our hardest year yet,” co-founder and CEO Melanie Perkins wrote in her note to employees. Canva—like the rest of the design software sector—has been hobbled by the growing capabilities of AI image generation tools. The company’s AI costs are surging and revenue growth forecasts are shrinking while it tries to adapt, which led investors to cut its valuation in August—the last thing the company wants as it eyes an IPO.—ML
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