Bending Spoons to lay off 75% of WeTransfer staff after deal, CEO says By Reuters

(Reuters) – Italian app developer Bending Spoons will lay off 75 percent of its staff at file-sharing platform WeTransfer, CEO Luca Ferrari (NYSE: ) said in a statement on Sunday.

Ferrari said: “I will not be more specific at this stage as the layoff has not yet been fully defined,” in an emailed statement to Reuters.

The Italy-based app company made its fifth acquisition this year when it bought WeTransfer in July. In February, Bending Spoons raised $155 million in a capital raise, bringing the company’s valuation to $2.55 billion.

The owner of WeTransfer, which was founded in 2009 in the Netherlands, sought an initial public offering in Amsterdam with a targeted valuation of up to 716 million euros in 2022, but the plan was shelved due to market volatility, it said at the time.

TechCrunch and Dutch media reported earlier about the job cuts at the company.