Vimeo Cuts 11% of Workforce, as CEO Cites ‘Uncertain’ Economic Outlook

Vimeo has pared back its workforce, laying off 11% of its global full-time employees, the video-hosting company disclosed. The headcount reduction is “part of the company’s effort to focus on its top priorities, and to put itself in position to become sustainably profitable,” Vimeo said in an SEC filing Wednesday. It is expected that the implementation of the headcount reduction will be substantially complete by the end of the first quarter of 2023. Potential position eliminations in each country are subject to local law and consultation requirements. In a memo to staff, Vimeo CEO Anjali Sud wrote that the latest… Read Full Article