Atlassian to reduce global workforce by 5% amid resource rebalancing
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Amid rebalancing of resources and pursuing larger growth opportunities, Atlassian (NASDAQ:TEAM) announced the elimination of certain roles affecting ~500 full-time employees, or ~5% of its current workforce.
The company sees ~$70M to $75M in charges related to these actions which also include investing in strategic areas of the business, aligning talent to best meet customer needs and business priorities, and optimizing for operational efficiency.

Of the total charges, ~$27 to $29M is expected to lead to future cash outlays related to severance, notice period, employee transition and benefits payments, and ~$43 to $46M is expected to consist of non-cash charges for accelerated vesting of share-based awards and exit charges associated with office space reductions.
Atlassian expects majority of changes to be incurred in Q3 of FY23 and execution of these actions will be complete by end of Q4 of FY23.