Vimeo slashes workforce by 6%, including in Israel R&D center
Vimeo slashes workforce by 6%, including in Israel R&D center
The video hosting, sharing, and services platform will be parting ways with around 70 employees in total, including about 10 of its 120 employees in Israel
Vimeo has laid off 6% of its workforce, amounting to around 70 employees in total, including around 10 of the video hosting, sharing, and services platform’s employees in Israel. As of the end of 2021, Vimeo had a total of over 1,200 full-time employees, 120 of which were based in Israel.
The company announced last June that it intends to double its headcount locally, but ultimately will be reducing it instead due to the global economic downturn.
Vimeo’s local R&D center is built around the staff of automated video creation company Wibbitz, which was acquired last November, and Israeli startup Magisto, bought for $100 million in 2019.
"Our people are what makes Vimeo great, and losing any of them is a personal failure that I feel deeply. But after assessing the challenging market conditions and uncertainty ahead, I believe this is the responsible action to take," Vimeo CEO Anjali Sud said in a blog post. "It is the right thing to do, but still a painful outcome that impacts the jobs and lives of people we care about and have worked with side-by-side."
