Vimeo is laying off staff across its global operations. This news follows the video platform’s recent acquisition by the Italian technology conglomerate Bending Spoons. The purchase, completed last year, was an all-cash deal valued at one point three eight billion dollars.
Bending Spoons has confirmed the layoffs but did not specify the number of employees affected. Reports indicate the cuts will impact a large portion of the company’s total workforce. This information comes from a former Vimeo executive who stated he was laid off along with a significant number of his colleagues.
Founded in 2004, Vimeo has historically competed in a market dominated by YouTube. In recent years, the company has increasingly focused on artificial intelligence. In 2023, Vimeo announced plans for AI-powered script-writing and video-editing tools. This past October, it released additional AI tools designed to integrate filmmaker content directly into AI workflows.
Bending Spoons has built a portfolio by acquiring several well-known tech platforms. In addition to Vimeo, the company has purchased Meetup, Evernote, and WeTransfer in recent years.