العربية
Business

Australia’s Canva to Restructure, Affecting 22% of Workforce

Australian graphic design platform Canva Group said on Wednesday that a restructuring would affect 1,271 jobs, or around 22% of its workforce, after growth slowed for the first time in a decade. The Sydney-based company is the latest technology firm to reduce headcount as the sector adapts to rapid advances in AI and changing business needs. Co-founder and CEO Melanie Perkins said the ⁠changes would reshape Canva's ⁠organizational structure, team locations and staffing requirements.

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Business

M&S Profit Rebounds from Cyberattack but Clothing Drags on Recovery

British retailer Marks & Spencer said on Wednesday its first-half profit rebounded from last year's cyberattack-hit level, but was down on a two-year basis as strong trading in food failed to fully offset weakness in clothing. The 142-year-old M&S, one of the biggest names on the UK high street, said its adjusted profit before tax more than doubled in the six months to September 26 to £403.2 ⁠million ($542.4 million), on ⁠sales up 16.2% to £9.26 billion. Analysts had on average forecast profit of £399 million.

Asharq Al-Awsat English