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SUBSEQUENT EVENTS
6 Months Ended
Jun. 30, 2022
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS SUBSEQUENT EVENTS
In July 2022, the Company completed an evaluation to a sufficient level of detail to commit to a restructuring plan that resulted in a reduction to its workforce of approximately 6% of its employees. All impacted employees were notified in July and the Company expects to provide severance payments, continuation of health insurance coverage, and other benefits for a specified period of time to the affected employees. As a result, the Company currently estimates that it will incur restructuring costs of approximately $4.0 million in the third quarter of 2022.
Additionally in July 2022, Vimeo entered into agreements with a subsidiary of Angi Inc. and a subsidiary of IAC pursuant to which Vimeo extended its sublease of the tenth floor at 330 West 34th Street, and added a sublease of the fifth floor, both through April 2028. As a result of entering into these agreements, future expected lease payments related to 330 West 34th Street are $20.1 million.