Canva Group will cut 1,271 jobs, or about 22% of its workforce, as part of a restructuring after growth slowed for the first time in a decade. Co-founder and CEO Melanie Perkins said the changes will reshape the company’s organisational structure, team locations and staffing needs. Canva is combining its product, growth and platform teams into one product organisation, reducing management layers and consolidating roles to improve accountability and decision-making. Sydney will become the main base for more product teams, and most hybrid workers will be expected to attend the office two to three days a week from January. Departing employees will receive $10,000 grants for future endeavours. Canva has staff in 37 countries, is reducing its 2026 revenue-growth forecast from 30% to 20%, and has cut its internal valuation as artificial-intelligence product costs rose. Its reported valuation fell from A$60 billion at the end of last year to about A$49 billion after Blackbird Ventures and Airtree marked it down. The changes come amid wider software-industry disruption, including AI competition from OpenAI and Google. Atlassian cut 1,600 jobs in March, while WiseTech Global cut nearly a third of its global workforce in February as part of a two-year restructuring.