Vimeo really screwed up by never diversifying or extending their product well.
Now they're cutting R&D to focus on pushing their barely used, mediocre service. Doesn't seem like they have a bright future.
As much as I hate Vimeo the company, it's sad to see people lose their jobs. I hope that those who did get taken care of. I hope that there's a management shake up, as they were some of the most incompetent folk I've dealt with.