Vimeo cuts 11% of its staff in layoffs, amidst 'uncertain economic environment'

Vimeo, a software-as-a-service firm that makes it easier for the average person to create and distribute video content is laying off 11% of its workforce, a company spokesperson confirmed to Business Insider.

CEO Anjali Sud in an email told staff that the company had made the hard decision to reduce its workforce in an attempt to address deteriorating economic conditions, adding that the layoffs would impact 11% of the company's workforce.

In July 2022, the media company slashed 6% of its workforce, but Sud said in her Wednesday email to staff that the company has seen further deterioration since. Sud said employees would be notified via individual emails and an invitation to meet with their team leader and a member of human resources.

As of December 2021, the company had employed over 1,200 workers, according to its annual regulatory filing.

Vimeo becomes the latest tech company to downsize amid fears that the US is facing a recession.

PC maker, HP Inc., social media giant, Meta Platforms Inc., and e-commerce giant, Amazon Inc., have all downsized due to slowing growth, falling stock prices and recession concerns.