Italy-based app developer Bending Spoons, the parent company of popular apps Evernote and Meetup, is gearing up for a significant workforce reduction at its newly acquired file transfer service, WeTransfer. According to recent reports, the company plans to lay off a staggering 75% of WeTransfer’s staff. Bending Spoons acquired WeTransfer in July, but details about the transaction remain under wraps.
Bending Spoons has verified its intention to downsize WeTransfer’s workforce. The employees affected by this decision will be notified following the completion of local regulatory protocols. Presently, WeTransfer boasts a team of over 350 employees, as per Dutch media outlets.
CEO Luca Ferrari of Bending Spoons explained that the company generally undertakes a comprehensive analysis of any organization it acquires to devise a forward-looking business vision aimed at long-term operation.
“Once we have a clear vision, we strive to bridge the gap between the current state of the business and our envisioned future as swiftly and completely as possible. This often necessitates significant changes across various facets, including organizational structure,” Ferrari elaborated. “Even though making tough and unpopular decisions is never enjoyable, we are willing to do so when we believe they are essential for the business’s prosperity.”
In WeTransfer’s particular scenario, Ferrari mentioned that Bending Spoons aims for a leaner, more dedicated team.
“For WeTransfer, we envision a smaller, more sharply focused organization. We believe this will position WeTransfer better for long-term success,” he added.
Since becoming a part of Bending Spoons’ portfolio, WeTransfer has introduced a feature that allows users to extend the expiration date of shared links. However, plans regarding the long-term product roadmap remain undisclosed.
Bending Spoons is known for streamlining operations in its acquisitions to ensure profitability. Earlier in February 2023, the company laid off 129 employees from Evernote. In December 2023, it went a step further with Filmic, a photo and video editing app it purchased in 2022, by letting go of the entire workforce. Meetup also faced workforce reductions following its acquisition earlier this year.
In a significant financial move, Bending Spoons secured $155 million in equity financing this February, attracting investment from Durable Capital Partners and continued support from existing investors like Baillie Gifford, Cox Enterprises, NB Renaissance, NUO Capital, and StarTIP (affiliated with Tamburi Investment Partners).
