'Almost Everyone' Laid Off at Vimeo Following Bending Spoons Buyout
- Reference: 0180642068
- News link: https://slashdot.org/story/26/01/23/0757223/almost-everyone-laid-off-at-vimeo-following-bending-spoons-buyout
- Source link:
This marks Vimeo's second round of layoffs in less than six months. The company cut 10% of its workforce in September, just one week before Bending Spoons announced its acquisition plans. Bending Spoons has a history of post-acquisition layoffs at companies including WeTransfer, Filmic, and Evernote.
[1] https://www.businessinsider.com/vimeo-laying-off-staff-after-billion-sale-to-bending-spoons-2026-1
[2] https://news.slashdot.org/story/25/09/10/1853252/bending-spoons-buys-video-platform-vimeo-for-138-billion
Bending Spoons (Score:1)
Just canceled my Evernote subscription after 15 years. Weâ(TM)ll see how long it takes Bending Spoons to wreck Vimeo.
Private equity? (Score:3)
By their behaviour I'm guessing Bending Spoons is one of those blood-sucking private equity firms.
more like Broadcom (Score:3)
When a company is in decline you can either wait until the company is completely broke and it can't misses payroll (or misses payments on its loans), or it can hit the big red button and get bought out by a company like Broadcom or Bending Spoons that cuts costs and sucks the marrow from the bones. While it sucks for the company to die like that, it's better than the alternative and nobody should have been caught off-guard. Unless you were specifically paid a retention bonus to see the transaction through,
On "That's Capitalism!", we say: that's capitalism (Score:2)
Hey, maybe they've perfected the service, and don't need any workers to improve or maintain it anymore!
Or maybe this is the beginning of the end, and they're officially spiraling in toward the drain now.
It's the second one. It's just a matter of how much ruination is left in them before the bare husk of their name is sold off to, oh, let's say, IBM.
Re: (Score:1)
Not sure who you mean by "they", not sure you do either.
Re: (Score:1)
"They" is Vimeo. Or, I guess, maybe, Bending Spoons. Not sure what other interpretations there could be. Not sure your statements were made in good faith, either.
Antitrust law enforcement saves jobs (Score:2, Insightful)
If we would stop letting companies buy companies they shouldn't be allowed to buy because it reduces market competition we have more jobs and you would have more money. We'd also have more competition so prices would be lower.
The only reason not to enforce antitrust law is because we get distracted by culture War bullshit instead of the economy and we get confused by slick dime store celebrity politicians
Bye Bye Vimeo (Score:2)
It's too bad that this has to happen. It was nice having a Video platform that allowed viewers to watch videos and didn't abuse it's viewers like YouTube does.
The good news is that video platforms are a solved problem. It should not be too hard for a competitor to launch a viable replacement. The only "problem" is the lost mindshare. It will take a while, or a lot of advertising cash, for a good replacement to benefit form the social networking effect.
More like Breaking Spoons (Score:2)
They completely enshittified Meetup with all sorts of absurd monetization schemes, Vimeo will likely go to hell as well.
Re: (Score:2)
> They completely enshittified Meetup with all sorts of absurd monetization schemes, Vimeo will likely go to hell as well.
Makes you wonder if some buyouts are nothing more than large-scale money laundering schemes. These kinds of efforts tossed into a fiscal inferno make it appear that failure was an absolute target goal.
When punishment is non-existent, we shouldn't pretend corrupt fuckery isn't a viable business option every time. Even worse when failure is rewarded with the warped legality of hedge funds betting against success. (When 80% of businesses fail organically, it's not exactly hard to manufacture failure for cor
Re: (Score:2)
It's a common scheme for a big "investment group" to buy up companies with a decent reputation, start shoving ads, snoopware, and/or junk fees on it, giving them short-term profits, and then sell it off at a discount when its now damaged reputation makes it a money-loser.
Even though they sell it at less than they bought it for, the reputation milking between those events often brings in more than enough to cover company sell losses. Or they just may keep it and let it linger until the skinny over-milked cow
Re: (Score:2)
And don't forget they are also buying eventbrite (where they will, most likely, increase fees and add in additional monetization schemes).