Canva Becomes the Latest Company to Carry Out Mass Layoffs. Over 20% of the Staff to Be Fired or Relocated.

Canva has become the latest company to conduct mass layoffs, with over 1,200 staffers being fired or relocated. The figure represents over 20% of the company’s workforce.

Canva CEO Melanie Perkins said in an email to staff that the decision was “without doubt the hardest moment in our thirteen-year history”.

“For some people, this will mean changes to their roles or being asked to relocate to centralized hubs,” Perkins said. “Sadly, it will also mean saying goodbye to teammates and friends who have helped build Canva into what it is today.”

Those being laid off will get at least six months of salary and keep healthcare coverage for 12 additional months if they are in countries with that arrangement. They will also keep their laptops and will be able to apply for grants of $10,000 to begin their own companies.

Other companies have made similar announcements over the past weeks. Disney is preparing for thousands of potential layoffs as well, asking some managers to identify annual cost savings of up to 20% as the company extends a restructuring campaign that has already eliminated jobs across the entertainment company this year.

The 20% figure describes savings targets given to certain managers, rather than an announced companywide reduction in staffing. Neither a final number of affected employees nor a timetable for the latest layoffs has been publicly established. Preparations involve multiple divisions, including Disney’s television networks and motion picture studio.

The potential cuts would expand Chief Executive Josh D’Amaro’s efforts to reshape Disney after succeeding Bob Iger on March 18. They also follow several rounds of reductions that have reached corporate support teams, entertainment operations and the company’s theme park design business.

Skydance is also shedding many jobs. The company will also require employees to return to the office five days a week, with CEOs David Ellison and Ynon Kreiz saying in a memo that “in-person collaboration is vital to our culture and to the success of our business.” Some will also be offered buyouts.

Microsoft is also offering buyouts to tens of thousands of employees as it seeks to have the company adapt to the artificial intelligence boom.

The company said on Monday that some 60,000 employees are eligible for the buyout. Those reached are in the U.S., Canada, India and the UK and have an experience level of 70 or below.

Amy Coleman, Microsoft’s executive vice president and chief people officer, said in a memo that the program “reflects an important part of how we’re evolving our approach to change: creating greater flexibility and, where possible, more ways for employees to shape their next chapter.”

“This builds on what we learned earlier this year through the Voluntary Retirement Program,” she added. Those who will accept the offer must make the decision over the next weeks and will leave at the end of the year. The company’s stock is climbing on Monday, gaining almost 1.5% at 2:33 p.m. ET amid a session of broad gains.