Bending Spoons to Cut 75% of WeTransfer’s Workforce Following Acquisition, CEO Announces

Italian app developer Bending Spoons will reduce WeTransfer’s workforce by 75%, CEO Luca Ferrari announced on Sunday.

Ferrari mentioned in an email to Reuters, “I won’t provide more details at this time as the specifics of the layoff are not fully determined yet.”

Bending Spoons, which acquired WeTransfer in July, marks its fifth acquisition of the year. The Italian app company’s worth increased to $2.55 billion in February when it obtained $155 million through a capital increase.

WeTransfer, founded in 2009 in the Netherlands, had planned an initial public offering in Amsterdam in 2022 with a target valuation of up to 716 million euros. However, the IPO was postponed due to market instability, the company said at that time.

Reports from TechCrunch and Dutch media earlier covered the upcoming job cuts at WeTransfer.