Atlassian to cut about 1,600 jobs, shares rise

Atlassian

11/03/2026 21:23

** Enterprise software developer Atlassian's TEAM.O shares rise ~2% to $76.99 after hours

** Co to lay off ~10% of its workforce, or ~1,600 employees

** "We are doing this to self-fund further investment in AI and enterprise sales, while strengthening our financial profile" - CEO Mike Cannon-Brookes

** Co estimates it will incur about $225 mln to $236 mln in charges in connection with these actions

** Up to last close, stock has fallen 53.5% this year

 (Reporting by Anhata Rooprai in Bengaluru)

 ((Anhata.Rooprai@thomsonreuters.com))