Canva has announced the biggest organisational shake-up in its history, with 1,271 people, or 22% of its global workforce, affected by redundancies, role changes and relocations.
It comes after a brutal year for Australia's biggest private technology company. Reported internal figures suggest Canva's annualised revenue has stalled around US$3.7 billion while monthly active users have fallen by 12 million year-on-year, as increasingly powerful AI tools challenge its core design business.
Adam and Adir jump on for an emergency episode to unpack what the restructure really means, why Adir thinks this could be a move for survival rather than simple cost-cutting, and how AI has changed the economics of Canva's famous freemium model.
They also discuss what a major Canva downturn could mean for Australia's technology ecosystem, the dilemma facing employees holding private Canva stock, whether the company missed its "golden window", and what Mel Perkins and Cliff Obrecht need to do next.
CHAPTERS
00:08 - Canva's 22% Workforce Overhaul
10:09 - Is Canva Fighting for Survival?
20:01 - Canva's Golden Window and What Comes Next
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