381866 atlassian to cut hundreds of jobs after ceo scott farquhar did a recruitment drive across australia

Atlassian to cut hundreds of jobs after CEO Scott Farquhar did a recruitment drive across Australia

Atlassian to cut hundreds of jobs just months after billionaire CEO splashed out on $130m ‘castle’ and lavish party – following his road trip recruitment drive promising incredible work-from-home perks

  • Atlassian will cut 500 jobs or 5 per cent of their workforce
  • The company’s co-founders sent an internal letter to staff
  • The technology sector has been affected by a downturn

By Jesse Hyland For Daily Mail Australia

Published: | Updated:

Aussie tech giant Atlassian has announced it is cutting hundreds of jobs less than six months after one of its CEOs travelled the nation in a motorhome on a massive recruitment drive to recruit 1,000 workers.

The software company announced on Tuesday that 500 full-time employees – or 5 per cent of its workforce – would be made redundant amidst an economic downtown that has significantly affected the industry.

Billionaire co-founders Mike Cannon-Brookes and Scott Farquhar – who own more than $500million worth of property – sent an internal letter to staff to explain the ‘difficult decision’ by the company to lay off workers.

‘We have made the difficult decision to rebalance our team to better position Atlassian for the long term,’ the pair wrote.

‘We came to this decision as an executive team and with our board, but ultimately the final call is on us as co-founders. To those who are leaving us: we are deeply sorry.’

Tech giant Atlassian will cut 500 jobs just months after co-founder Scott Farquhar (pictured) travelled around Australia to recruit 1000 people

Atlassian’s HR, program management and research and insights teams will be worst impacted.

‘To be clear, this decision is not a reflection of Atlassian’s own financial performance, as we will be reinvesting in roles that better support our priorities,’ the co-founders said.

‘This is going to be hard news for every Atlassian to digest. Please take the time you need to process it.

‘As we’ve said before, the calls we make in challenging times need to reflect a future Atlassian we are all building towards. Atlassian’s future remains incredibly bright, with a huge amount of opportunity and possibility ahead of us.’

Mr Cannon-Brookes and Mr Farquhar thanked the outgoing staff for their contribution to Atlassian.

‘We are incredibly sorry for the impact this will have on you and your family,’ they wrote.

Employees who are made redundant will be offered a number of benefits including 15 weeks of severance, plus one week’s pay for each year of employment.

A number of major tech companies have already announced massive job cuts including including Google, Amazon and Meta.

Twitter also laid off hundreds of staff following its takeover by Elon Musk.

The company’s co-founders, Mike Cannon-Brookes (pictured with wife Annie) and Scott Farquhar, sent an internal letter to staff to explain the ‘difficult decision’

The announcement by Atlassian comes six months after the company went on a nationwide recruitment drive to hire new staff, promising them they could work from ‘anywhere’.

Co-founder Scott Farquhar hit the road, driving an Atlassian-branded campervan in a bid to find 1,032 staff to join the company in research and development roles.

‘Atlassian’s work from anywhere policy (Team Anywhere) means many Aussies can realise a dream in tech without having to move,’ a statement from the company said.

Atlassian offers extremely competitive salaries with packages ranging from $100,000 and $150,000, depending on roles and experience.

The company’s recruitment drive began at Sydney’s Martin Place before turning into a road trip.

The so-called ‘AtlassiVan’ visited Canberra, Wollongong, Melbourne, Adelaide, Newcastle, Brisbane, Gold Coast and Sunshine Coast.

The software giant came third in the 2022 Australia’s Best Workplaces list for large companies, with a major perk being it offers financial support to staff to set up their ideal workspace.

Staff are allowed to work from home anywhere and only have to come together to collaborate face to face four times a year.

If they come into the office by bicycle, the company reimburses bike repairs, accessories, and rentals up to an agreed amount.

Inside the incredible wealth of the billionaire founders of Atlassian

* Mike Cannon-Brookes and Scott Farquhar have both amassed a property empire that has a combined value of $523million

* Mr Farquhar bought a Point Piper mansion last December for $130million. It’s the highest price paid for a house in Australia

* He owns a two-bedroom apartment in Pyrmont valued at $2.5million in 2017, an Avoca Beach home, a mansion in Double Bay and a property in Bellevue Hill

Atlassian billionaire Scott Farquhar and his investment banker wife Kim Jackson snapped a four-bedroom ‘Scottish castle’ for $130million in December 2022 (pictured)

* Mr Cannon-Brookes has a house in Pittwater, six properties in the Southern Highlands, a mansion in Double Bay, a heritage estate in Fairwater, a heritage-listed residence in Double Bay, a waterfront mansion in Newport, the Bangalla estate and the island resort of Dunk Island

* He also bought a minority stake in the Utah Jazz NBA team

* Mr Farquhar hosted a lavish party at his Point Piper mansion in December that featured a private concert by US rock band The Killers while Sydney electronic music duo The Bag Raiders performed as the support act

The Killers (pictured) played at a lavish party at Mr Farquhar’s mansion last December

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