Vimeo focuses on the delivery of high-definition video across a range of devices.
Vimeos business model software as a service.
The cuts comes a half-year after Vimeo axed 6% of its workforce in July 2022.
Vimeo
Sud blamed further deterioration in economic conditions for the latest round of cuts.
Sales and research and development will be targeted in the latest layoffs.
Both departments account for the majority of company employees, Sud said.
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The company is an independent publicly traded entity.
I will be reaching out directly to offer my assistance.
This was a very hard decision that impacts each of us deeply.
Why are we doing this again?
Last summer we committed to making Vimeo a sustainably profitable company.
Several things have changed since we reduced our workforce by 6% in July.
We took action last quarter to streamline our non-headcount costs, from marketing spend to perks to office space.
However, our team remains our largest cost as a company.
As a result, there are reductions in nearly every region and department at Vimeo.
We will be sharing specifics about which product and business areas are most impacted in a town hall tomorrow.
We have demonstrated time and again that we can do hard things as a company.
Thank you to those leaving us.
I believe in our strategy and in our collective ability to make it happen, as do countless others.
Lets focus today on showing up for our colleagues with humanity and care.
