Vimeo Does Another Round of Layoffs, Cuts 11 Pct of Staff — Retail Bum

Video marketing platform Vimeo has conducted another round of layoffs, this time impacting 11% of the company.

In a letter posted online, Vimeo CEO Anjali Sud pointed to further deterioration in economic conditions as a reason for layoffs. Sud said that nearly every department and region of the company would be impacted, but a majority of the cuts would occur in large departments, including sales and research and development.

Sud noted that the reason for conducting a second round of layoffs is to keep the business profitable.

“We are entering 2023 with a more focused strategy to simplify Vimeo, and ultimately, our team size and composition needs to reflect that focus,” said Sud.

“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 conducted its first round of layoffs back in July 2022 when Sud announced Vimeo was laying off 6% of its workforce.

Those impacted this time around are expected to receive a similar package as those affected in July, which includes at least 12 weeks of pay, COBRA health insurance, and “mental well-being support.”

Originally published at https://retailbum.com on January 5, 2023.