Atlassian to cut 500 jobs (~5% workforce) in resource rebalancing; expects $70-75M in charges

Atlassian Corp

Approximately 500 full-time employees (5% of workforce) eliminated as part of resource rebalancing.
Estimated charges of $70-75M: $27-29M cash for severance/benefits, $43-46M non-cash for accelerated vesting and office space reductions.
Majority of charges expected in Q3 FY2023; execution substantially complete by end of Q4 FY2023.
Company says decision not financially driven; will reinvest in strategic areas like cloud migrations, ITSM, enterprise customers.
Most impacted teams include Talent Acquisition, Program Management, and Research & Insights.

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