CONNECT WITH US
Tech

Tech

Canva just laid off 1,200 people. But its severance package is earning praise

Fast Company logo

Published on

Add as a preferred source on Google
Canva just laid off 1,200 people. But its severance package is earning praise

Design tech company Canva is doing some major restructuring: The move will impact about 1,200 employees, or roughly 22% of its staff. But the company’s also getting attention for how it’s treating the newly terminated employees. 

On Tuesday, CEO Melanie Perkins announced the news in a post on LinkedIn. She also shared a letter that laid out a generous severance package that’s being fawned over on social media.

The letter explained that all terminated employees would receive six months of salary,  regardless of location. The Sydney-based company also said it will remove the one-year vesting cliff for those who joined the company within the last year, which means even those who recently joined can walk away with shares in the company. 

They will also continue to receive healthcare, plus dedicated career support, resume help, coaching and interview preparation, plus one year of LinkedIn Premium. The company also launched a fund to provide $10,000 grants to those looking to start a company or project or their own. “Whether it’s starting a business or doing something meaningful for their local community, the fund is designed to help get those ideas off the ground,” Canva explained in the letter. 

The company is even allowing all terminated employees to keep their MacBook laptops.

“We’re making significant changes to how we’re organised, which sadly means saying goodbye to many exceptionally talented people who have helped build Canva into what it is today,” Perkins wrote in her LinkedIn post. Perkins added that the company put in the time and effort to create “an opt-in alumni directory” for those who are being forced to leave the company, where former employees can learn about work opportunities.


Source link
Related Topics:Tech

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.