Vimeo Slashes Staff by 11% in 2nd Wave of Layoffs in 6 Months

Vimeo has chopped down its workforce by 11 percent in a new sweep of layoffs, the video hosting platform said Wednesday in a company blog post.

“Today we made the decision to reduce the size of our team by 11%. Everyone whose job is impacted has received an email and an invite for a meeting with their team leader and HR,” read the letter from Vimeo CEO Anjali Sud, who thanked the impacted employees for their contributions. “This was a very hard decision that impacts each of us deeply. It is also the right thing to do to enable Vimeo to be a more focused and successful company, operating with the necessary discipline in an uncertain economic environment.”

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This is another layoff round for Vimeo, which chopped its employee staff by 6% back in July 2022. In her note, Sud mentioned the company’s mission to making Vimeo a “sustainably profitable company.” Despite achieving a positive adjusted EBITDA and progressive cashflow in Q3 of 22, Sud shared that the company’s bookings and revenue trends still need cost discipline in order for Vimeo to grow economically.

“We are entering 2023 with a more focused strategy to simplify Vimeo, and ultimately, our team size and composition needs to reflect that focus,” Sud wrote. “This reduction enables us to achieve our growth and profitability goals in a way that is far less dependent on the broader market, putting us in full control of our destiny.”

Impacted workers will receive a similar severance package as those who were laid off in July, which included 12 weeks of pay, COBRA insurance and “mental wellbeing support.” Sud shared that a town hall meeting will be held on Jan. 5 to discuss which product and business areas of the company will be the most affected.