Vimeo reports that it plans to disrupt 11% of its employees
- ByStartupStory | January 7, 2023
The global tech ecosystem’s layoff news for the new year is nothing new. In response to yesterday’s announcement by Amazon that it would be laying off 18,000 workers, another US-based startup, Vimeo, has also stated that it will reduce its workforce 11% in order to cope with the current economic crisis. Will 2023 be more challenging than the previous year? is a pertinent issue that has been raised in response to several layoff announcements in the first week of the new year.
In a blog post on LinkedIn, Anjali Sud, the Indian-originated chief executive officer ( CEO) of Vimeo, wrote, “We are entering 2023 with a more focused strategy to simplify Vimeo, and ultimately, our team size and composition need to reflect that focus. 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.”
“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,” she added.
Prior to this, in July of last year, Vimeo started making layoffs.
For those working in global tech, last year was very challenging. Tech companies sacked workers as necessary cost-cutting measures out of fear of a recession. For instance, Meta was said to have reduced its employment by 13%. Nearly 7,500 employees were let go by Twitter, while Google has announced plans to fire 10,000 underperforming workers.
According to a Mint research, 15,000 jobs were lost in 2021, 15,000 in 2020, and nearly 1,50,000 employment for computer workers in 2022.
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