Video sharing platform, Vimeo, has disclosed that it would be cutting 11 percent of its workforce in response to the worsening economic conditions.
The news was made by Anjali Sud, CEO of Vimeo, in an open message, adding that “those whose positions are impacted have received emails and invites for meetings with their team leaders and HR”.
There will be layoffs in nearly every location and department of the company, with the bulk of employees affected coming from Sales and R&D, which account for the majority of the company’s total staff.
“We are entering 2023 with a more focused strategy to simplify Vimeo, and ultimately, our team size and composition needs to reflect that focus. This reduction enables us to achieve our growth and profitability goals in a way that is far less dependent on the broader market, putting us in full control of our destiny,” Sud wrote.
This wave of layoffs follows a July announcement by Sud that Vimeo will lay off 6 percent of its personnel.
In addition, workers who are leaving the company will get financial and transition assistance, Sud said.