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 went public on the New York Stock Exchange in May 2021. 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. Why you should listen CEO since July 2017, Anjali Sud led Vimeo through a significant business transformation and took the company public in 2021. "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." Anjali Sud is the CEO of Vimeo, a company bringing professional-quality video to a diverse, global community of more than 280 million people. "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. Vimeo CEO Anjali Sud wrote on LinkedIn that the company has cut 6 of its staff in order to give itself financial flexibility and asked recruiters to consider these former Vimeans for. 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." In an email to staff, Vimeo CEO Anjali Sud said the layoffs would impact 11% of the company's workforce. Creators Vimeo is becoming a standalone company after booming during the pandemic / IAC will spin off Vimeo in 2021 By Jacob Kastrenakes, a deputy editor who oversees tech and news coverage. Vimeo has launched another round of layoffs, a company spokesperson confirmed to Insider on Wednesday. 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 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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