Vimeo begins layoffs after acquisition by Bending Spoons

Vimeo, the video hosting platform, is laying off some of its global employees, according to a report from Business Insider. The move comes shortly after the company was acquired by Italian technology group Bending Spoons, which bought it in an all-cash deal last year for $1.38 billion.

Bending Spoons confirmed the layoffs to BI but did not share how many people will lose their jobs. The Verge reports that the cuts will affect a “significant portion” of the company’s overall workforce, citing a LinkedIn post from Vimeo’s former VP of Global Brand and Creative, who stated that he “along with a significant portion of the company” has been “affected by the layoffs.”

TechCrunch has reached out to Vimeo and Bending Spoons for more information.

Vimeo, founded in 2004, has struggled to find its footing in a field dominated by YouTube. In recent years, the company has moved heavily toward artificial intelligence. In 2023, it announced plans to launch AI-powered screenwriting and video editing tools. Last October, the company added a suite of additional AI-powered content creation tools designed to connect “filmmakers’ content directly into their AI workflow.”

In recent years, Bending Spoons has acquired a number of other well-known technology platforms, including Meetup, Evernote, and WeTransfer.