Italian app developer Bending Spoons will lay off 75% of its staff at file-sharing platform WeTransfer, Luca Ferrari, CEO of the company, said in a statement on Sunday.
“I will not be more specific at this stage as the period of redundancies has not yet been fully defined,” Ferrari said in a statement emailed to Reuters.
The Italy-based app company made its fifth acquisition this year when it bought WeTransfer in July. Bending Spoons raised $155 million in a capital increase in February, valuing the company at $2.55 billion.
WeTransfer, founded in 2009 in the Netherlands, had been seeking an initial public offering in Amsterdam with a targeted valuation of €716 million in 2022, but the plan was scrapped due to market volatility, it said at the time.
Earlier, TechCrunch and Dutch media reported on job cuts at the company.