The company has announced that in a new round of layoffs at Vimeo, 11% of the current workforce will lose their jobs. CEO Anjali Sood broke the news to employees, and expressed her gratitude for letting them go, but added that it was the ‘right’ thing to do.
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In July last year, the New York-headquartered firm cut 6% of its erstwhile workforce.
Why lay off?
Sood wrote that the cuts will enable Vimeo to achieve growth and profitability in a way that is less dependent on the broader market and will, therefore, put the company in “complete control of its own destiny.”
