Atlassian lays off 1,600 employees to invest in AI
Business
Atlassian, the team behind Trello and Jira, just laid off 1,600 people (about 10% of its staff) to boost investment in AI and speed up operations.
CEO Mike Cannon-Brookes said the tech world is changing fast with AI, so roles and skills need to evolve too.
Job cuts affected engineering, data science, and product teams
Many of the job cuts affected engineering, data science, and product teams worldwide, including remote workers in the US.
On a brighter note, Atlassian is offering generous severance: at least 16 weeks' pay, bonuses, tech stipends, extended health care, and paid parental leave.
Company's shares have fallen more than 50% this year
After announcing the layoffs, Atlassian's shares have fallen more than 50% so far this year.