Bending Spoons, an Italian app developer, will lay off 75% of staff at file-sharing platform WeTransfer.
CEO Luca Ferrari announced the decision in a statement to Reuters on Sunday. Details remain unclear as the layoff process is still being finalized.
Bending Spoons acquired WeTransfer in July, marking its fifth acquisition this year.
In February, the company raised $155 million through a capital increase, boosting its valuation to $2.55 billion.
WeTransfer, founded in the Netherlands in 2009, had planned to go public in 2022 but canceled its IPO due to market volatility.
News of the job cuts was first reported by TechCrunch and Dutch media. The company’s future remains uncertain amid ongoing changes.
