- Vimeo is laying off 11% of its workforce, a business spokesperson confirmed.
- Vimeo CEO Anjali Sud explained to team in an electronic mail that the workforce reduction is an attempt to address deteriorating economic problems.
- The company slashed 6% of its employees in July, citing related considerations.
Vimeo has launched one more spherical of layoffs, a organization spokesperson verified to Insider on Wednesday.
In an e mail to employees, Vimeo CEO Anjali Sud said the layoffs would influence 11% of the firm’s workforce.
“This was a incredibly tough choice that impacts each of us deeply,” Sud wrote in an e mail resolved to “Vimeans.” “It is also the ideal factor to do to enable Vimeo to be a additional targeted and productive enterprise, working with the vital self-discipline in an unsure economic environment.”
In the e mail, Sud said staff members would be notified via specific emails and an invitation to meet up with with their group leader and a member of human means. The corporation used just above 1,200 personnel as of December 2021, in accordance to its annual regulatory filing.
A Vimeo spokesperson informed Insider the layoffs will assistance the company handle financial problems.
“With this reduction, we are well-positioned to the two invest in our advancement priorities and be sustainably worthwhile, with a robust equilibrium sheet and a main marketplace position in enterprise movie,” the spokesperson stated. “We think in the elementary strength of our small business and our method, and that we have the resources and crew to carry on innovating to provide the electrical power of online video to each and every business enterprise in the planet.”
In July, the media business slashed 6% of its workforce, but Sud mentioned in her Wednesday email to staff members that the corporation has viewed further more deterioration because. Vimeo is a single of numerous tech firms to carry out a series of downsizing efforts amid fears that the US is experiencing a economic downturn.
Vimeo went general public on the New York Inventory Exchange in May well 2021. The firm’s key enterprise is computer software as a service that makes it easier for the ordinary individual to make and distribute online video content it is not too long ago been shifting to huge corporate shoppers like Hole, Nike, and Expedia and absent from its job as a YouTube option.
Have a tip or a lot more info about this story? Speak to reporter from a non-get the job done electronic mail at gkay@insider.com
- Vimeo is laying off 11% of its workforce, a business spokesperson confirmed.
- Vimeo CEO Anjali Sud explained to team in an electronic mail that the workforce reduction is an attempt to address deteriorating economic problems.
- The company slashed 6% of its employees in July, citing related considerations.
Vimeo has launched one more spherical of layoffs, a organization spokesperson verified to Insider on Wednesday.
In an e mail to employees, Vimeo CEO Anjali Sud said the layoffs would influence 11% of the firm’s workforce.
“This was a incredibly tough choice that impacts each of us deeply,” Sud wrote in an e mail resolved to “Vimeans.” “It is also the ideal factor to do to enable Vimeo to be a additional targeted and productive enterprise, working with the vital self-discipline in an unsure economic environment.”
In the e mail, Sud said staff members would be notified via specific emails and an invitation to meet up with with their group leader and a member of human means. The corporation used just above 1,200 personnel as of December 2021, in accordance to its annual regulatory filing.
A Vimeo spokesperson informed Insider the layoffs will assistance the company handle financial problems.
“With this reduction, we are well-positioned to the two invest in our advancement priorities and be sustainably worthwhile, with a robust equilibrium sheet and a main marketplace position in enterprise movie,” the spokesperson stated. “We think in the elementary strength of our small business and our method, and that we have the resources and crew to carry on innovating to provide the electrical power of online video to each and every business enterprise in the planet.”
In July, the media business slashed 6% of its workforce, but Sud mentioned in her Wednesday email to staff members that the corporation has viewed further more deterioration because. Vimeo is a single of numerous tech firms to carry out a series of downsizing efforts amid fears that the US is experiencing a economic downturn.
Vimeo went general public on the New York Inventory Exchange in May well 2021. The firm’s key enterprise is computer software as a service that makes it easier for the ordinary individual to make and distribute online video content it is not too long ago been shifting to huge corporate shoppers like Hole, Nike, and Expedia and absent from its job as a YouTube option.
Have a tip or a lot more info about this story? Speak to reporter from a non-get the job done electronic mail at gkay@insider.com
