HomeNewsBusiness‘Grateful for contribution, but right thing to do’: Vimeo to layoff 11%...

‘Grateful for contribution, but right thing to do’: Vimeo to layoff 11% staff

In a fresh round of layoffs at Vimeo, as many as 11% of its existing workforce will lose their jobs, the company has announced. CEO Anjali Sud broke the news to the employees, and expressed her gratitude to those being let go, but also said it was the ‘right’ thing to do.

Also Read | Amazon to layoff over 18,000 employees amid ‘uncertain’ economy: CEO

In July last year, the New York-headquartered firm slashed 6% of its staff.

Why the layoffs?

Sud wrote the reduction would help Vimeo achieve growth and profitability in a way that is way less dependent on the broader market and, therefore, put the company in ‘full control of our destiny.’

Who all will be impacted?

The majority of those impacted are from sales and R&D (research and development), Sud said, adding that this because these two departments make up the majority of the total employees.

As in the past, those leaving will be given financial and transition support, as well as a few enhancements, she added.

What next?

The rest of the team, the CEO said, is entering 2023 with more clarity and structural alignment than ever before. In future, work will only become more video-first, and the world needs easy and innovative solutions to communicate and connect better, according to Sud.

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Chief Editor Authorisation Crime News India Sagar Anna Khandare


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