Vimeo likely to lay off 11% staff amid economic crisis

New Delhi : Tech companies in India are laying off their staff and amid all this, video hosting platform Vimeo has announced that they will be letting go 11% office staffer. Vimeo CEO Anjali Sud informed employees that while it is difficult to make the decision, it is also "the right thing to do" for the company's future end success.

"We are entering 2023 with a more focused strategy to simplify Vimeo, and ultimately, our team size and composition needs 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," Ms Sud wrote in a blog post.

In her post, she mentioned that she is feeling sad for those who will be departing the company, but also the reduction will help the company in sustaining profitability. She has also mentioned that while she is invested in the careers of Vimeo professionals, she will be helping them finding the new jobs.

"I will be reaching out to each of them to offer my network to support them in their next career steps," the Vimeo boss wrote adding, "If you know of an opportunity or are seeking great talent, let us know a vimeotalent@vimeo.com."

Vimeo is a video streaming platform with millions users. It was started in 2004 by Jake Lodwick and Zach Klein. Anjali Sud took over as the CEO of Vimeo in 2017.