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Vimeo Laying Off 11 Percent Of Workforce, Second Major Cut In A Year
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deadline.comA blog posted today by CEO Anjali Sud informed Vimeo staff that another 11% of the workforce will be laid off. Vimeo focuses on the delivery of high-definition video across a range of devices.
Vimeo’s business model software as a service. The cuts comes a half-year after Vimeo axed 6% of its workforce in July 2022. Sud blamed “further deterioration in economic conditions” for the latest round of cuts.
She named “prolonged geopolitical conflict, rising interest rates, and global recession fears” as the culprits behind that meltdown.
Sales and research and development will be targeted in the latest layoffs. Both departments account for the majority of company employees, Sud said.
Read more on deadline.com
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