Shutterstock-owned Envato is slashing its workforce

Shutterstock-owned Envato is reportedly cutting up to 200 jobs, around one-third of its workforce, following a strategic review. The restructure affects teams across Australia, New Zealand, Mexico, and the US, and includes redundancies, redeployments, role changes, promotions, and reporting-line changes. Envato said the changes are intended to reshape the company around AI, faster execution, and changing customer expectations by reducing management layers and creating smaller focused teams.