• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Tuesday, June 24, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home News

Vimeo cuts 15% of its workforce

by Prity Khanal
January 5, 2023
in News, Tech
Reading Time: 2 mins read
0
Vimeo cuts 15% of its workforce
TwitterWhatsappLinkedin

Vimeo enters into the league of companies laying off their employees. The company’s CEO, Anjali Sud stated in an email the reason for the layoff, “uncertain economic environment”. The layoff affected around 11% of the workforce.

You might also like

Lexus LFR Spotted Testing in California, Toyota’s Long-Awaited GR GT3-Based Road Car Edges Closer to Reality

Kazam Raises $6.2M Series B to Power India’s EV Charging Future

InCred Secures ₹250 Cr from Kamath Brothers Ahead of IPO

“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 … It positions us to both invest in our growth priorities and be sustainably profitable while continuing to innovate to bring the power of video to every business in the world,” Sud wrote.

She further added that the employees were informed through personal emails to meet their team leader and a member of human resources.

The employees mostly affected were in the department of Sales and Research & Development.

However, the last round of layoffs of the company was in July 2022 which laid off 6% of its staff. Since the July layoffs, Vimeo has seen a “further deterioration in economic conditions, in the form of prolonged geopolitical conflict, rising interest rates, and global recession fears,” Sud said.

File photo: CEO Anjali Sud

However, Sud is confident that Vimeo can make a comeback. “We are entering 2023 with a more focused strategy to simplify Vimeo, and ultimately, our team size and composition needs to reflect that focus,” she 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.”

The company was launched in 2004 with its first public appearance in May last year on the New York Stock Exchange. Vimeo claimed to have around 260 million users at the beginning.

The company reported a loss of about 100,000 subscribers in November which equals a loss of $22.9 million. 

Vimeo counts 1,219 full-time workers as of December 2021. With this layoff, the company joins other tech companies like Meta, Twitter, Salesforce, Amazon, and many more that laid off employees.

“This year’s review has been more difficult given the uncertain economy and that we’ve hired rapidly over the last several years,” Jassy wrote in a note to staff on Thursday. Amazon engages 1.5 million employees and this round of employment cuts is the biggest in the company’s record.

“Companies that last a long time go through different phases. They’re not in heavy people expansion mode every year,” said Jassy in his note.

Salesforce, on the other hand, cut around 7,000 employees which is 10% of its strong workforce and even closed some offices to cover costs.

“The environment remains challenging and our customers are taking a more measured approach to their purchasing decisions,” co-CEO Marc Benioff said in an email to staff.

Tags: #anjali_sud#economicrecession#employeeresign#employees_layoffamazonappMetaSalesforcetwitterVimeo
Tweet54SendShare15
Previous Post

How To Make Mint Candy in Disney Dreamlight Valley

Next Post

How to Craft the Spine Snap in Valheim

Prity Khanal

Prity is a content writer whose passion lies in writing to inspire others. She specialises in the field of law. With a curious mind and love for research and proficiency in creating informative narratives, she has specialised in tech, crypto, and is up-to-date with current market changes and flexible in various other fields.

Recommended For You

Lexus LFR Spotted Testing in California, Toyota’s Long-Awaited GR GT3-Based Road Car Edges Closer to Reality

by Samir Gautam
June 24, 2025
0
Lexus LFR Spotted Testing in California, Toyota’s Long-Awaited GR GT3-Based Road Car Edges Closer to Reality

More than three years after Toyota unveiled the GR GT3 concept, the long-anticipated street-legal version expected to carry a Lexus badge has finally been spotted testing again, this...

Read more

Kazam Raises $6.2M Series B to Power India’s EV Charging Future

by Ishaan Negi
June 24, 2025
0
Kazam Raises $6.2M Series B to Power India’s EV Charging Future

In a resounding vote of confidence for India’s green mobility ambitions, Kazam, one of the country’s fastest-growing EV energy-tech startups, has raised $6.2 million in Series B funding....

Read more

InCred Secures ₹250 Cr from Kamath Brothers Ahead of IPO

by Ishaan Negi
June 24, 2025
0
InCred Secures ₹250 Cr from Kamath Brothers Ahead of IPO

In a bold move that signals rising investor confidence in India's next-generation financial services, Nikhil Kamath and Nithin Kamath—the visionary co-founders of Zerodha and True Beacon—have acquired a...

Read more
Next Post
How to Craft the Spine Snap in Valheim

How to Craft the Spine Snap in Valheim

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?