A post by @BloombergHT on X.

Canva is cutting 22% of its workforce, the design-software company announced, marking one of its largest rounds of job reductions. The move affects roughly one in five employees and comes as the company refocuses on its AI-driven product lineup and enterprise growth. Canva, last valued at around $26 billion in secondary trades, has expanded aggressively into AI tools and workplace collaboration software in recent years. The layoffs signal that even well-capitalized private software firms are tightening costs amid slower growth and heavier spending on artificial intelligence. Investors and analysts will watch whether the restructuring improves Canva’s path to profitability and how it affects the company’s expected IPO timeline.