Vimeo has added its name to the list of numerous tech companies announcing layoffs. The American video-hosting platform has said that will let go 11 percent of its staff. CEO Anjali Sud informed employees that while it is difficult to make the decision, it is also the “right thing to do” for the company’s success.
On LinkedIn Sud wrote, “We are entering 2023 with a more focused strategy to simplify Vimeo, and ultimately, our team size and composition needs to reflect that focus,”
Addressing her staff Sud added, “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.”
Sud shared a link of her message to the staff and said she felt deeply for those departing the company. “What we need right now is humanity,” she added.
In the post, Sud also wrote that she was invested in the careers of Vimeo professionals and will contribute in the layoffs.
“I will be reaching out to each of them to offer my network to support them in their next career steps,” the Vimeo boss wrote. “If you know of an opportunity or are seeking great talent, let us know a vimeotalent@vimeo.com.”
Vimeo had earlier initiated layoffs in July, wherein it reduced staff by 6 percent. But Sud said there was more economic deterioration after that, because of factors like “prolonged geopolitical conflict, rising interest rates, and global recession fears”.
Sud has been the CEO of Vimeo since July, 2017. She is often credited with transforming Vimeo from a YouTube alternative to a platform offering companies video creating and sharing tools.
In an interview with Moneycontrol, Sud said that she developed a global perspective moving across Indian and American cultures. Her parents moved to the US from India right before she was born.
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