Vimeo, a video-hosting platform, is laying off some of its global staff, according to report from Business Insider. The move came shortly after corporate acquisitions by Italian tech conglomerate Bending Spoons, which it bought in an all-cash deal last year for $1.38 billion.
Bending Spoons confirmed the layoffs to BI but would not reveal how many people would lose their jobs. The Verge report that the cutbacks will impact a “large part” of the total workforce of the company, it is mentioned LinkedIn post from Vimeo’s former VP of Global Brand and Creative, who stated that he, “along with a large part of the company,” has been “affected by layoffs.”
TechCrunch reached out to Vimeo and Bending Spoons for more information.
Vimeo, founded in 2004, has struggled to find its footing in a field dominated by YouTube. In recent years, the company has been heavily involved in AI. In 2023, that is declare plans to launch AI-powered script-writing and video editing tools. This past October, the company added an additional suite Creator tool with AI designed to connect “filmmaker content directly into AI workflows.”
In recent years, Bending Spoons has acquired several well-known technology platforms, including Meetup, Evernoteand WeTransfer.