San Francisco: Video sharing platform Vimeo has announced that it will be laying off 11 per cent of its workforce amid a decline in economic conditions.
The announcement was made by Anjali Sud, CEO of Vimeo, in an online letter, noting that “those whose jobs are affected have received emails and invitations for meetings with their team leaders and HR”.
There will be reductions in nearly every region and department of the company, and the majority of employees impacted will be from Sales and R&D, as those departments make up most of the company’s overall workforce.
“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 round of job cuts follows earlier layoffs in July, when Sud announced Vimeo was laying off 6 per cent of its workforce.
Moreover, employees who will be leaving the company will be provided with financial and transition support, said Sud.
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