Bending Spoons Plans Major Workforce Reductions at WeTransfer After Acquisition

In a significant move following its acquisition of file-sharing platform WeTransfer, Italian app developer Bending Spoons has announced plans to reduce the company’s workforce by a staggering 75%. This major restructuring was confirmed by CEO Luca Ferrari, who shared the news in a statement released on Sunday.

Ferrari explained that while the precise details of the layoffs have yet to be finalized, the company is preparing for substantial staff cuts. He declined to elaborate further, noting that the process was still in the planning stages.

This is the fifth major acquisition by Bending Spoons in 2023, with the purchase of WeTransfer in July marking another milestone in the company’s rapid expansion. Earlier in the year, the Milan-based developer secured $155 million through a capital increase, boosting its overall valuation to an impressive $2.55 billion.

WeTransfer, founded in 2009 in the Netherlands, had initially planned to go public in Amsterdam in 2022, with a valuation target as high as 716 million euros. However, the highly anticipated IPO was shelved due to unfavorable market conditions, a decision that reflected the unpredictable financial environment at the time.

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