Atlassian cuts 5% of head count as the software maker focuses on high-priority areas

Business-software maker Atlassian said Monday that it will lay off 500 employees, or around 5% of its workforce. Atlassian shares were up 1% in extended trading following the announcement.

The technology industry has been contracting slightly in the past year after Covid caused individuals and companies to change their behaviors, even as unemployment continues to be low in developed…