Italy-based app firm Bending Spoons, which owns Evernote and Meetup, is planning to put off 75% of the workers of file switch service WeTransfer, TechCrunch has discovered. Bending Spoons acquired the Dutch firm in July for an undisclosed quantity.
The corporate confirmed the plans for the WeTransfer layoff to TechCrunch. The workers that’s being let go will probably be knowledgeable after Bending Spoons goes by way of native rules in numerous international locations relating to lay offs. Dutch media reported that WeTransfer has over 350 workers.
Bending Spoons CEO Luca Ferrari mentioned that sometimes, the corporate research the group that it’s buying and determines what’s the greatest imaginative and prescient of the enterprise going ahead with an intention to function it ceaselessly.
“As soon as the imaginative and prescient is evident, we attempt to shut the hole between the established order and the imaginative and prescient as rapidly and as absolutely as we will. Sometimes, doing so entails making main modifications to many areas, together with the group. Whereas we don’t take pleasure in making painful or unpopular choices, we’re ready to take action after we consider it’s the precise factor to do to assist the enterprise thrive,” he mentioned.
Ferrari additionally famous that in WeTransfer’s case, Bending Spoons wished to have a small and centered group.
“On this explicit case, the imaginative and prescient we developed is of a smaller, extra sharply centered WeTransfer group, which we consider will probably be better-positioned to serve WeTransfer’s success with a long-term view,” the CEO mentioned.
Since its acquisition, WeTransfer has rolled out a brand new characteristic to let customers lengthen the expiry date of a hyperlink on the app. Nevertheless, Bending Spoons or WeTransfer hasn’t disclosed their plans about long-term product roadmap.
The layoffs aren’t stunning as Bending Spoons commonly cuts the worker depend of firms it acquires to be able to function them profitably. In February 2023, it lower 129 workers from Evernote’s workers. In December 2023, the corporate let go of the whole workforce of Filmic, the favored photograph 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 Sturdy Capital Companions and current ones, together with Baillie Gifford, Cox Enterprises, NB Renaissance, NUO Capital, and StarTIP (managed by Tamburi Funding Companions).