Australian software giant Atlassian to shed 5 per cent of workers, or 500 jobs globally, as tech industry layoffs grow

Australian software company Atlassian will cut 120 jobs in Australia after announcing “around 500” employees would be made redundant worldwide — equivalent to 5 per cent of its workforce — but says the company is not facing financial difficulties.

In a statement released to the US Securities and Exchange Commission on Tuesday, Atlassian founders and co-chief executives Mike Cannon-Brookes and Scott Farquhar said the company needed to “reduce our investment in specific areas, in order to reinvest in others”, in response to the changing business climate globally.

“A month back, we reorganised our company to better reflect operating in a changing and difficult macroeconomic environment,” the statement read.

“We made tough calls to prioritise the most-critical work for our current and future customers.

“While it helped us streamline work, we need to go further in rebalancing the skills we require to run faster at our company priorities.”

Mr Cannon-Brookes and Mr Farquhar said the decision does not reflect Atlassian’s financial performance.

“We will be reinvesting in roles that better support our priorities. As a company, we have massive growth opportunities in front of us,” they said.

“Although hard, this rebalancing will help us put more wood behind these arrows.”

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