Software program large Atlassian on Wednesday introduced that it’s chopping round 10% of its workforce or 1,600 workers. Shares of the corporate rose round 2% in prolonged buying and selling after the corporate introduced its layoffs, Reuters reported.
Atlassian co-founder, Mike Cannon-Brookes, in a memo to the staff wrote, “I imagine that is the appropriate determination for Atlassian. However that doesn’t imply it’s straightforward. Removed from it. I do know this has a big impact on every of you, and it weighs closely on me and Atlassian as we speak.”
Brookes added that the choice to chop off the workforce was taken to ‘self-fund additional funding in AI and enterprise gross sales’ together with strengthening the corporate’s monetary profile.
“We’re additionally altering the best way we work and reorganising round our System of Work to maneuver quicker.” Brooks famous within the memo