![]() ![]() The company's main business is software as a service that makes it easier for the average person to create and distribute video content it's recently been shifting to big corporate clients like Gap, Nike, and Expedia and away from its role as a YouTube alternative. Vimeo’s post, written by its CEO, is very apologetic in tone it even opens with an image of a bouquet of flowers, the universal sign for I messed up, please forgive me. Vimeo went public on the New York Stock Exchange in May 2021. 10,601 views 94 Dislike Share Save CNBC Television 2.06M subscribers Anjali Sud, Vimeo CEO, joins 'Squawk Alley' to discuss the company's growth and recent round of funding. Vimeo is one of many tech companies to conduct a series of downsizing efforts amid fears that the US is facing a recession. ![]() In July, the media company slashed 6% of its workforce, but Sud said in her Wednesday email to staff that the company has seen further deterioration since. ![]() "We believe in the fundamental strength of our business and our strategy, and that we have the resources and team to continue innovating to bring the power of video to every business in the world." "With this reduction, we are well-positioned to both invest in our growth priorities and be sustainably profitable, with a strong balance sheet and a leading market position in enterprise video," the spokesperson said. The company employed just over 1,200 workers as of December 2021, according to its annual regulatory filing.Ī Vimeo spokesperson told Insider the layoffs will help the company address economic concerns. Basically, think of it as everything outside of what Zoom and videoconferencing doesall the other ways video can be used, Vimeo CEO Anjali Sud said. In the email, Sud said employees would be notified via individual emails and an invitation to meet with their team leader and a member of human resources. "This was a very hard decision that impacts each of us deeply," Sud wrote in an email addressed to "Vimeans." "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." She took to LinkedIn to share the good news. In an email to staff, Vimeo CEO Anjali Sud said the layoffs would impact 11% of the company's workforce. Charvi Kathuria Anjali Sud baby : The CEO of Vimeo was blessed with a baby boy for the second time on 14th April, 2022. AP Photo/Mark Lennihan Vimeo is laying off 11 of its workforce, a company spokesperson confirmed. Vimeo has launched another round of layoffs, a company spokesperson confirmed to Insider on Wednesday. Anjali Sud, CEO of Vimeo, emailed employees on Wednesday announcing further job cuts. The company slashed 6% of its staff in July, citing similar concerns. Vimeo CEO Anjali Sud told staff in an email that the workforce reduction is an attempt to address deteriorating economic conditions. Vimeo CEO Anjali Sud has talked at length about this strategy shift, telling The Verge last year that the goal is to be a software company for businesses of all sizes. Vimeo is laying off 11% of its workforce, a company spokesperson confirmed. Anjali Sud, CEO of Vimeo, emailed employees on Wednesday announcing further job cuts. ![]()
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