Atlassian cuts 500 jobs as tech industry pain intensifies

Australian technology giant Atlassian has announced it is laying off about 500 staff globally or 5 per cent of its workforce amid a downturn in the technology sector., Atlassian’s billionaire co-founders Mike Cannon-Brookes and Scott Farquhar said the company’s talent acquisition, program management and research and insights teams would be most affected.

“To be clear, this decision is not a reflection of Atlassian’s own financial performance, as we will be reinvesting in roles that better support our priorities,” Cannon-Brookes and Farquhar wrote in their letter.Atlassian said redundant staff would be offered a package of benefits exceeding the legal requirement, with Cannon-Brookes and Farquhar paying tribute to departing staff.

“We are incredibly sorry for the impact this will have on you and your family,” they wrote to affected staff.The cuts will cost the $US45 billion company up to $US75 million in one-off expenses.

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Atlassian cuts 500 jobs as tech industry pain intensifiesThe company is billing the move as a “rebalancing” but the redundancies are a sharp change from its emphasis on rapid hiring.
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