In a memo to employees, co-founder and CEO Melanie Perkins described the past year as Canva’s “hardest year yet” and said the company’s growth had slowed for the first time in 10 years. “After exploring a wide range of alternatives, I’ve come to the difficult conclusion that small changes won’t be enough,” she wrote. Perkins said Canva needs to “re-found” itself around small, empowered teams.
The package includes equity regardless of how long an affected employee has worked at Canva, even though equity typically vests after a year. Departing employees will also receive 12 months of healthcare coverage in countries where Canva offers it, and a year of access to Canva Care, the company’s employee assistance program, for themselves and their families.
Canva is offering individual career coaching, interview preparation and one year of LinkedIn Premium. A significant portion of its recruiting team will review resumes and conduct practice interviews. Workers may also join an alumni talent directory that Canva plans to share with investors, partners and its wider industry network. They can keep their company MacBooks, Perkins said, noting that not everyone has a personal laptop.
Through the new Canva Collective Fund, departing employees can apply for $10,000 grants to start a business or launch a community project. Those leaving under the changes have until December 14 to register interest; Canva will not take an ownership stake in what they create. Slack and Gmail access will remain open through the end of the week so employees can absorb the news and say goodbye to colleagues.
Greg Simpson, who leads LHH’s global career transition and mobility practice, told Business Insider that the package did not surprise him, citing a broader shift toward career support for departing workers. KnotDating co-founder and CEO Jasveer Singh told Newsweek Canva’s announcement was “thoughtful, honest and generous,” calling its handling of the layoffs “a master-class.”
Comments (0)
No comments yet. Be the first!