Vimeo Laying Off 11 Percent Of Workforce, Second Major Cut In A Year – Deadline

A 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. The company is an independent publicly traded entity. Vimeo reported $108.1 million in revenue in its third quarter derived from 1.6 million subscribers Sud’s complete blog post: Dear Vimeans, Today we made the decision to reduce the size of our team by 11%. Everyone whose job is impacted has received an email and an invite for a meeting with their team leader and HR. For those leaving us: we are so grateful for your contributions and will make every effort to support you. I will be reaching out directly to
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