Vimeo makes the “hard decision” to lay off 11% of its workforce – Tubefilter.com

Photo credit: Stephen McCarthy 2022 was a rough year for Vimeo, and the video platform is starting 2023 on its heels. Its CEO, Anjali Sud, has announced a round of layoffs that will affect 11% of employees. Vimeo, which will celebrate its 19th birthday this year, has had a long career as an alternative online video platform aimed at businesses and indie creators. However, like many digital media companies, Vimeo has struggled to keep up with volatile economic conditions over the past two years. In a note sent to her employees, Sud cited “prolonged geopolitical conflict, rising interest rates, and global recession fears” as factors in “a further deterioration in economic conditions.” “This was a very hard decision that impacts each of us deeply,” Sud wrote. “It is also the right thing to do to enable Vimeo to be a more focused and successful company, operating with the necessary discipline in an uncertain economic environment. It positions us to both invest in our growth priorities and be sustainably profitable while continuing to innovate to bring the power of video to every business in the world.”Subscribe for daily Tubefilter Top StoriesSubscribe For most of its existence, Vimeo was owned by InterActiveCorp (IAC), the
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