Vimeo, the popular video-hosting platform, is facing layoffs following its acquisition by Italian tech company Bending Spoons for $1.38 billion. While Bending Spoons has confirmed the layoffs, the exact number of affected employees remains undisclosed. Reports indicate that a significant portion of Vimeo’s workforce will be impacted, as shared by a former executive. Established in 2004, Vimeo has struggled to compete with YouTube and has recently focused on AI innovations, including plans for AI-powered script-writing and video-editing tools. In 2023, Vimeo unveiled additional AI tools aimed at enhancing creator workflows. Bending Spoons, known for acquiring other tech platforms such as Meetup and Evernote, is aiming to reshape Vimeo in a competitive market. For ongoing updates, readers can follow industry news outlets. This situation reflects broader shifts in the tech industry as companies adapt to changing market dynamics.
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