Vimeo initiated staff layoffs following its acquisition by Italian technology conglomerate Bending Spoons, Business Insider reported. Bending Spoons acquired Vimeo last year in an all-cash deal valued at $1.38 billion.
Bending Spoons confirmed the job reductions to Business Insider but did not specify the number of affected employees. The Verge reported the cuts would impact a significant portion of Vimeo’s total workforce, citing a LinkedIn post from Vimeo’s former VP of Global Brand and Creative who stated he and a large part of the company had been impacted.
Vimeo, established in 2004, has focused on artificial intelligence initiatives. In 2023, the platform announced plans for AI-powered script-writing and video-editing tools. The company added a suite of AI-powered creator tools in October, designed to integrate content with AI workflows.
Bending Spoons has acquired several technology platforms, including Meetup, Evernote, and WeTransfer.
