Vimeo starts layoffs after acquisition by Bending Spoons

Core Insights - Vimeo is laying off a significant portion of its global staff following its acquisition by Bending Spoons for $1.38 billion [1][2] - Bending Spoons confirmed the layoffs but did not disclose the exact number of job losses, indicating that a "large portion" of Vimeo's workforce will be affected [2] - Vimeo has been struggling to compete in the video-hosting market, primarily dominated by YouTube, and has been focusing on AI technologies to enhance its offerings [3] Company Overview - Vimeo was founded in 2004 and has faced challenges in establishing a strong market position against competitors like YouTube [3] - The company has recently announced plans to introduce AI-powered tools for script-writing and video editing, as well as additional AI tools aimed at connecting filmmakers' content to AI workflows [3] Acquisition Context - Bending Spoons, the Italian tech conglomerate, acquired Vimeo in an all-cash deal last year, which is part of its strategy to expand its portfolio by acquiring other tech platforms like Meetup, Evernote, and WeTransfer [1][3]