Vimeo has begun laying off members of its global workforce, according to a Business Insider report. The job cuts come not long after the video-hosting platform was acquired by Italian technology group Bending Spoons, which completed an all-cash purchase of Vimeo last year valued at $1.38 billion.
Bending Spoons confirmed the layoffs to Business Insider but declined to disclose how many employees are affected. The Verge reported that the reductions impact a “large portion” of Vimeo’s workforce, citing a LinkedIn post from the company’s former vice president of global brand and creative. In the post, the executive said that he, “along with a large portion of the company,” had been “impacted by layoffs.”
Founded in 2004, Vimeo has long struggled to carve out a distinct position in a market dominated by YouTube. In recent years, the company has increasingly emphasised artificial intelligence as part of its strategy. In 2023, Vimeo announced plans to introduce AI-powered scriptwriting and video-editing tools. Then, in October, it rolled out an expanded set of AI-driven creator tools to more directly link filmmakers’ content with automated AI workflows.
Bending Spoons has steadily built a portfolio of well-known digital products through acquisitions over the past few years. In addition to Vimeo, the company has also purchased platforms such as Meetup, Evernote, and WeTransfer.
