Brightcove to cut two-thirds of U.S. workforce

Brightcove, a streaming company based in Boston, will lay off 198 workers. This represents about two-thirds of its U.S. staff. The decision comes a month after Brightcove was acquired by an Italian company called Bending Spoons. The company informed the state about the layoffs, which will impact 65 employees in Massachusetts. Brightcove previously had around 300 employees in the U.S. and over 600 worldwide. The layoffs will occur between mid-March and the end of July. Brightcove was sold for $233 million in cash this year. The Italian firm, Bending Spoons, is known for developing popular apps such as Evernote and WeTransfer. Brightcove has been operating since 2004 and has offices in multiple countries, including England, Japan, Australia, and South Korea. Bending Spoons has not yet commented on the layoffs.