In a fresh round of layoffs at Vimeo, as many as 11% of the 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.
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In July last year, the New York-headquartered firm slashed 6% of its then workforce.
Why the layoffs?
Sud wrote that the reduction would enable Vimeo to achieve growth and profitability in a way that is way less dependent on the broader market and, therefore, would put the company in ‘full control of its destiny.’