Vimeo's Major Layoffs Leave Industry Speculating About Future Direction
In a move that has sent shockwaves through the tech industry, video hosting platform Vimeo has laid off what sources describe as "most" of its staff, with reports suggesting nearly the entire video team was affected. The layoffs come just months after Vimeo was acquired by private equity firm Bending Spoons for $1.38 billion.
The news is not entirely unexpected, given that Vimeo had already cut 10% of its workforce in September last year. However, the latest round of layoffs has left many industry insiders wondering what the future holds for the company under new ownership. The situation is further complicated by the fact that Bending Spoons' track record on layoffs and cost-cutting measures is well-documented.
Acquiring Evernote, Meetup, WeTransfer, AOL, and Eventbrite in recent years, followed by a significant reduction in staff at each of those companies, has been a hallmark of Bending Spoons' investment strategy. The firm's CEO was quoted as saying that "we're trying to make AI more useful to the creator and the viewer" following Vimeo's introduction of new AI-powered tools last year.
However, with the company's share price nearly doubling in anticipation of these tools, it is unclear whether this latest round of layoffs can be seen as a necessary cost-cutting measure. Industry observers are left wondering what changes Bending Spoons has planned for Vimeo moving forward, particularly given the firm's reputation for seeking out undervalued assets and making significant cuts to reduce costs.
As one former employee noted on social media, "almost everyone at Vimeo was laid off," leaving many to speculate about the company's future under new ownership. The situation remains fluid, with Vimeo yet to respond to requests for comment on the layoffs or its plans moving forward.
In a move that has sent shockwaves through the tech industry, video hosting platform Vimeo has laid off what sources describe as "most" of its staff, with reports suggesting nearly the entire video team was affected. The layoffs come just months after Vimeo was acquired by private equity firm Bending Spoons for $1.38 billion.
The news is not entirely unexpected, given that Vimeo had already cut 10% of its workforce in September last year. However, the latest round of layoffs has left many industry insiders wondering what the future holds for the company under new ownership. The situation is further complicated by the fact that Bending Spoons' track record on layoffs and cost-cutting measures is well-documented.
Acquiring Evernote, Meetup, WeTransfer, AOL, and Eventbrite in recent years, followed by a significant reduction in staff at each of those companies, has been a hallmark of Bending Spoons' investment strategy. The firm's CEO was quoted as saying that "we're trying to make AI more useful to the creator and the viewer" following Vimeo's introduction of new AI-powered tools last year.
However, with the company's share price nearly doubling in anticipation of these tools, it is unclear whether this latest round of layoffs can be seen as a necessary cost-cutting measure. Industry observers are left wondering what changes Bending Spoons has planned for Vimeo moving forward, particularly given the firm's reputation for seeking out undervalued assets and making significant cuts to reduce costs.
As one former employee noted on social media, "almost everyone at Vimeo was laid off," leaving many to speculate about the company's future under new ownership. The situation remains fluid, with Vimeo yet to respond to requests for comment on the layoffs or its plans moving forward.
I mean, what's up with these massive layoffs? Like, they cut 90% of their staff and now everyone's just wondering what's next? 
It's not like it's a surprise, they did cut 10% last year, but still... 
You'd think they'd be more open about their plans. And now the new owners are just mum on it too... 
I'm kinda curious to see what Bending Spoons has planned for Vimeo, maybe they'll make some AI-powered magic happen? 
But at the same time, if they're cutting so many people, that's gotta be a cost-cutting measure right? 
Not sure how this whole thing is gonna play out...
. However, it's hard to shake off the feeling that this latest round of layoffs might be more than just cost-cutting measures 
. The fact that nearly the entire video team was affected raises questions about the company's future direction and the role it will play in the ever-evolving tech landscape 
.
. One thing is certain, though – the future of online content creation will likely be shaped by the decisions made by Bending Spoons 
.
it's like, what's going on over there? i mean, i get it, they gotta cut costs and all that, but 90% of their staff gone? that's wild 
it's not surprising, tho, given bending spoon's track record with all those acquisitions and layoffs... they're always looking for ways to slash costs and make more money 
vimeo's AI tools are already pretty cool, can't we just keep the people making them rather than making it a cost-cutting measure to appease bps' profit margins? 
That's just crazy talk! 
Are they gonna have to find a new home somewhere else now?
. They seem like they're trying to make some big changes and cut costs all over the place 
. i dont know what to think about bending spoons' strategy though... they seem like a company that always looks for ways to cut costs 
. maybe this is a sign of a bigger trend in the tech industry or maybe bending spoons just wants to make more money 
they were acquired by some private equity firm but now most of their staff is gone 
what's going on with these new owners? 
i'm kinda worried about vimeo now... can it still be a good platform for creators? 
But until then, I'll be keeping an eye on it to see how this all plays out. 
...I get it, business is tough and new owners come in with their own vision but can't they at least try 2 do it with some compassion? 
It's so frustrating!
...
or maybe they just want to cash out before things get really interesting 
. But what about the creators who need Vimeo's platform? Are they just going to be left high and dry?
.
. We'll just have to wait and see what Bending Spoons has planned for the platform moving forward 
.
my fave vid hosting platform is goin down the drain 
i hope they can turn things around, but like, it seems kinda fishy that they're gettin' rid of most of their staff after just acquirin' them 
it's like they got left in the dark 
and don't even know what's next 
and the industry is already wondering what's gonna happen to the creators and users 
