The Australian startup that is laying off workers - and continuing to pay them salaries

In depth

Canva announced a restructuring that will affect 1,271 employees, about 22% of the company. According to Bizportal, the company is consolidating its product teams and centralizing its operations in Sydney.

According to Globes, CEO and founder Melanie Perkins admitted that growth at the company has slowed for the first time in a decade. Employees who leave will receive at least six months' salary.

According to Bizportal, the company's valuation has fallen to about $31 billion. According to Ice, the move is taking place due to the slowdown and the difficulties in facing off against artificial intelligence technology.