By Eleanor Dickinson
Publication Date: 2026-03-04 00:32:00
Melbourne-based creative platform Envato will cut a third of its workforce to integrate artificial intelligence into its operations.
The digital assets marketplace told employees this week that it would undertake a major global restructuring, which would result in an estimated 30% reduction in staff, according to Mumbrella.
The move follows similar announcements from other tech companies, including Afterpay parent Block, which plans to cut 4,000 jobs – about 40% of its workforce – and Wisetech, which plans to cut 2,000 jobs as part of its AI-driven transformation.
Envato’s business is based on selling subscriptions to content creators and providing stock images, videos, sounds and music. In recent years, the company has expanded into providing AI generation tools.
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In an employee note partially shared with Mumbrella, Envato CEO Hichame Assi said the company had completed a “strategic review” that resulted in “significant changes” to its approximately…