Video sharing platform Vimeo announced that it will be laying off 11 percent of its workforce in order to reduce cost.
Anjali Sud, CEO of Vimeo, in an online letter, indicated there will be job reductions in nearly every region and department of the company, and the majority of employees impacted will be from Sales and R&D, as those departments make up most of the company’s overall workforce.
“We are entering 2023 with a focused strategy to simplify Vimeo, and our team size and composition needs to reflect that focus. 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,” Anjali Sud wrote.
In July, Anjali Sud announced Vimeo was laying off 6 percent of its workforce.