Atlassian slashes 10% of workforce to ‘self-fund’ investments in AI
Atlassian co-founder and CEO Mike Cannon-Brookes speaks at the National Electric Vehicle Summit on August 19, 2022 in Canberra, Australia. Cannon-Brookes is calling on Australia to do more on climate action even as the new government rolls out plans to strengthen the country’s carbon emissions cuts.
Hilary Wardhaugh | Bloomberg | Getty Images
Atlassian The company will lay off 10% of its workforce, or about 1,600 people, as it restructures following a drop in stock prices due to advances in artificial intelligence, the company said Wednesday.
“We are doing this to self-fund further investment in AI and enterprise sales while strengthening our financial profile,” CEO Mike Cannon-Brookes said. blog post. He said employees will be notified of their status via email.
Atlassian has lost more than half its value this year, alongside a broader selloff in software stocks.
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