[munk-a]

Vimeo employed somewhere north of a thousand people a year ago with 28% being in the engineering team (according to random google results - this isn't an area I have personal knowledge of). If they dropped from around 300 people to 15 that sounds like gutting - not trimming.

[everfrustrated]

They will be hiring up but not the same people. Bending Spoons tends to replace high silicon valley wages with high Italy wages which is a considerable saving.

[johnnyanmac]

This is why I can't take any anti-immigration sentiments seriously in this country. An american founded company runs a business for 20 years, sells it off overseas, and the new owners kick all Americans out of the equation.

Response from America: "well that's just business, I guess". It was never about preserving American labor.

[everfrustrated]

If the company was profitable they wouldn't have needed to sell. It was always living on borrowed time. If a US owner bought it they'd have done exactly the same thing (layoffs) albeit possibly with new jobs in a different state than country.

[johnnyanmac]

>If the company was profitable they wouldn't have needed to sell.

And it's always the workers who pays the price, not the businessman. Does that see fair?

>If a US owner bought it they'd have done exactly the same thing (layoffs) albeit possibly with new jobs in a different state than country.

That'd be unfortunate, but it still means jobs are created in the US. It also gives he opportunity (slim) to have people move in the country. Moving the jobs overseas, not quite as mobile.

But yes, the big issue here is the lack of decorum in how we recklessly cut jobs here. This isn't how most 1st world coutnries work.

[pgodzin]

Vimeo's stock lost 90% of value after its IPO. Plenty of investors and businessmen paid the price.

[kelnos]

Typical bean counters, firing all the people with institutional knowledge up front, and then hoping their cheaper labor can figure things out.

Meanwhile, the users are the ones who lose out. Classic.