Vimeo lays off most of its staff just months after being bought by private equity firm

Vimeo, a video-hosting platform, has laid off most of its staff just months after being acquired by private equity firm Bending Spoons for $1.38 billion. The layoffs have impacted nearly the entire company, including the video team. The reason for the layoffs is unknown, but Bending Spoons has a history of purchasing tech companies and cutting costs through layoffs. Vimeo, founded a year before YouTube, has positioned itself as a premium alternative for hosting creative and business-adjacent videos.