Atlassian CEO: AI doesn't replace people here, but we're firing them anyway

2 days ago

Atlassian is laying off 10% of its workforce (1,600 employees) to fund AI investments.
CEO Mike Cannon-Brookes states AI won't replace people but changes skill and role requirements.
Layoffs primarily affect software developers in the USA, Australia, and India.
Severance costs estimated at $225–236 million, with layoffs completed by Q4 of the fiscal year.
Atlassian's stock price has dropped over 50% since the start of the year.
Market fears AI threatens the SaaS business model, but Atlassian remains optimistic.
CTO Rajeev Rajan is stepping down at the end of March.
Atlassian reports 25% cloud growth and 5 million monthly active users for its AI tool Rovo.
The company has been unprofitable since 2017.

Hasty Briefsbeta