Vimeo to lay off 11% staff, CEO says ’hard decision’ but ’responsible choice’

Video hosting platform Vimeo has announced to lay off 11 per cent of its staff amid 'difficult times.' Vimeo CEO Anjali Sud said that it was a difficult decision but was a 'responsible one.'

"Today we announced the decision to reduce Vimeo’s team size by 11%. This was an incredibly hard decision, one that impacts peoples’ livelihoods and spirits in already difficult times. It is also the responsible choice to enable Vimeo to be a more focused and successful company, operating with the necessary discipline in an uncertain economic environment," said Vimeo's CEO Anjali Sud.

In her LinkedIn post, Sud said that after this reduction, the company will be in a position to sustain profitable.

"With this reduction we are well positioned to both invest in our growth priorities and be sustainably profitable, with a strong balance sheet and over 1,000 employees all singularly focused on bringing the power of video to every business in the world," she added.

Vimeo's CEO said that employees who are leaving the company, she would reach out to then and 'offer network to support them.'

"As I said to the Vimeo team today, I know we can do hard things. I have seen us demonstrate agility and resilience throughout our history, and in particular in the last year. This is a strength that I believe differentiates us. I also know that what we need right now is humanity. I feel deeply for the Vimeans leaving us, and I want each person impacted to know how grateful I am for their contributions and how invested I am in their future. I will be reaching out to each of them to offer my network to support them in their next career steps. If you know of an opportunity or are seeking great talent, let us know at vimeotalent@vimeo.com," she said.

Vimeo had initiated layoffs in July too, reducing its staff by 6 percent.

Sud took over as the CEO in July, 2017.

She ended her note saying that Vimeo entered 2023 wwith more clarity.

"Despite this difficult change, Vimeo is entering 2023 with more clarity and structural alignment than ever before. The future of work will only become more video-first, and the world needs easy and innovative solutions to communicate and connect better. I believe in our strategy and in our team’s ability to make it happen, as do countless others. Today we will focus on showing up for our colleagues with care. And I will focus on showing up for every Vimean with both strength and humanity as we move forward," she said.

This comes at a time when global companies like Facebook, Amazon, Twitter have announced layoffs.

Recently, Amazon announced laying off over 18,000 employees