Italy-Based App Company,Bending Spoons, Set to Retain Less Than 25% of WeTransfer Staff After Acquisition
Following the acquisition of file-sharing site WeTransfer, Italian app developer Bending Spoons has revealed plans to downsize its workforce by 75%.
CEO Luca Ferrari announced the massive restructure in a statement posted on Sunday.
Bending Spoons acquired the Dutch company in July for an undisclosed sum.
The WeTransfer layoff plans were verified by the company to TechCrunch.
Bending Spoons will notify the employees who are being let go once it has reviewed local laws about layoffs in various nations.
According to Dutch media, WeTransfer employs more than 350 people.
Ferrari clarified that although the specifics of the layoffs are still being worked out, the company is getting ready to make significant worker reductions.
He declined to go into more detail, pointing out that the procedure was still being planned.
Newsng gathered that this is Bending Spoons’ fifth significant acquisition of 2023; the company’s July acquisition of WeTransfer was yet another significant turning point in its explosive growth.
The Milan-based developer raised finance by $155 million earlier this year, bringing its total worth to an astounding $2.55 billion.
“Once the vision is clear, we try to close the gap between the status quo and the vision as quickly and as fully as we can. Typically, doing so involves making major changes to many areas, including the organization.
“While we don’t enjoy making painful or unpopular decisions, we’re prepared to do so when we believe it’s the right thing to do to help the business thrive,” Ferrari said.
Bending Spoons, which also has Evernote, Meetup, Remini, Splice, and Streamyard in its portfolio, typically takes an acquire-and-fire strategy.
Perhaps Bending Spoons’ most well-known asset for the photo and video community is Filmic, which is frequently stylised as “FiLMiC,” which it acquired in 2023.
Filmic was also not exempt from Bending Spoons’ usual tactics; last December, Bending Spoons fired every employee at Filmic.
We earlier reported that Dropbox has purchased Reclaim.ai, a Portland, Oregon-based firm that utilises artificial intelligence to help businesses prioritise work and organise calendars through a calendar app.
