Vimeo begins staff layoffs following Bending Spoons acquisition
Vimeo initiated staff layoffs following its acquisition by Italian technology conglomerate Bending Spoons, Business Insider reported. Bending Spoons acquired Vimeo last year in an all-cash deal valued at $1.38 billion.
Bending Spoons confirmed the job reductions to Business Insider but did not specify the number of affected employees. The Verge reported the cuts would impact a significant portion of Vimeo’s total workforce, citing a LinkedIn post from Vimeo’s former VP of Global Brand and Creative who stated he and a large part of the company had been impacted.
Vimeo, established in 2004, has focused on artificial intelligence initiatives. In 2023, the platform announced plans for AI-powered script-writing and video-editing tools. The company added a suite of AI-powered creator tools in October, designed to integrate content with AI workflows.
Bending Spoons has acquired several technology platforms, including Meetup, Evernote, and WeTransfer.