Italy-based app firm Bending Spoons, which owns Evernote and Meetup, is planning to put off 75% of the employees of file switch service WeTransfer, TechCrunch has realized. Bending Spoons acquired the Dutch firm in July for an undisclosed quantity.
The firm confirmed the plans for the WeTransfer layoff to TechCrunch. The employees that’s being let go will likely be knowledgeable after Bending Spoons goes by way of native rules in numerous nations concerning lay offs. Dutch media reported that WeTransfer has over 350 staff.
Bending Spoons CEO Luca Ferrari stated that usually, the corporate research the group that it’s buying and determines what’s the finest imaginative and prescient of the enterprise going ahead with an intention to function it perpetually.
“Once the imaginative and prescient is evident, we attempt to shut the hole between the established order and the imaginative and prescient as shortly and as totally as we are able to. Typically, doing so includes making main modifications to many areas, together with the group. While we don’t take pleasure in making painful or unpopular choices, we’re ready to take action after we consider it’s the fitting factor to do to assist the enterprise thrive,” he stated.
Ferrari additionally famous that in WeTransfer’s case, Bending Spoons needed to have a small and targeted crew.
“In this specific case, the imaginative and prescient we developed is of a smaller, extra sharply targeted WeTransfer group, which we consider will likely be better-positioned to serve WeTransfer’s success with a long-term view,” the CEO stated.
Since its acquisition, WeTransfer has rolled out a brand new characteristic to let customers lengthen the expiry date of a hyperlink on the app. However, Bending Spoons or WeTransfer hasn’t disclosed their plans about long-term product roadmap.
The layoffs aren’t stunning as Bending Spoons often cuts the worker rely of firms it acquires with a view to function them profitably. In February 2023, it reduce 129 staff from Evernote’s employees. In December 2023, the corporate let go of the whole workforce of Filmic, the favored picture and video enhancing app that it acquired in 2022. Earlier this yr, Meetup additionally confronted job cuts after its acquisition.
In February, Bending Spoons raised $155 million in fairness financing from new investor Durable Capital Partners and current ones, together with Baillie Gifford, Cox Enterprises, NB Renaissance, NUO Capital, and StarTIP (managed by Tamburi Investment Partners).
