Vimeo has laid off part of its global workforce following its acquisition by Italian technology group Bending Spoons, according to reporting from Business Insider.
Layoffs Confirmed After Acquisition
Business Insider reported that Vimeo recently carried out staff reductions. The layoffs come months after Bending Spoons acquired the video-hosting platform in an all-cash transaction valued at $1.38 billion last year.
Bending Spoons confirmed the layoffs to Business Insider but declined to disclose how many employees were affected.
Scope Of Job Cuts
The Verge reported that the layoffs impacted a large portion of Vimeo’s workforce. The report cited a LinkedIn post from Vimeo’s former vice president of global brand and creative, who wrote that he, “along with a large portion of the company,” had been affected by the job cuts.
Vimeo’s Recent Strategy And AI Focus
Founded in 2004, Vimeo has faced challenges competing in a market dominated by YouTube. In recent years, the company has increasingly emphasized artificial intelligence as part of its product strategy.
In 2023, Vimeo announced plans to introduce AI-powered tools for scriptwriting and video editing. In October, the company expanded its offerings with additional AI-driven creator tools aimed at integrating filmmakers’ content directly into AI workflows.
Bending Spoons’ Acquisition History
Bending Spoons has built a portfolio of established technology platforms through a series of acquisitions. In recent years, the company has purchased services including Meetup, Evernote, and WeTransfer.
Featured image credits: needpix
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