"Vimeo, the video-hosting platform, is laying off some of its global staff, according to a report from Business Insider. The move comes shortly after the company's acquisition by the Italian tech conglomerate Bending Spoons, which purchased it in an all-cash deal last year for $1.38 billion. Bending Spoons confirmed the layoffs to BI but wouldn't share how many people would lose their jobs."
"The Verge reports that the cutbacks will impact a "large portion" of the company's total workforce, citing a LinkedIn post from Vimeo's former VP of Global Brand and Creative, who stated that he, "along with a large portion of the company," had been "impacted by layoffs." TechCrunch reached out to Vimeo and Bending Spoons for more information. Vimeo, which was founded in 2004, has struggled to find its footing in a field dominated by YouTube. In recent years, the company has leaned heavily into AI. In 2023, it announced plans to launch AI-powered script-writing and video editing tools. This past October, the company added a suite of additional AI-powered creator tools designed to connect filmmakers' "content directly to AI workflows.""
Vimeo is implementing global staff layoffs following its acquisition by Italian tech conglomerate Bending Spoons, which bought the company for $1.38 billion. Bending Spoons confirmed the layoffs but declined to disclose the number of affected employees. Reports indicate the cutbacks may affect a large portion of the workforce, based on a LinkedIn post from a former Vimeo executive. TechCrunch sought comment from both companies. Vimeo, founded in 2004, has struggled against YouTube and has recently invested heavily in AI, announcing script-writing and video-editing tools in 2023 and additional AI creator tools last October. Bending Spoons has acquired other platforms such as Meetup, Evernote, and WeTransfer.
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