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Snapchat owner cuts 16% of global staff
Apnews·T1·
Snap Inc., the company behind the popular social media platform Snapchat, is implementing significant workforce reductions. The company announced it is cutting approximately 16% of its global employees, which translates to around 1,000 jobs. This decision is part of a broader strategy to streamline operations and reallocate resources towards key growth initiatives. The layoffs are expected to incur substantial severance costs for Snap Inc. as it navigates a challenging market and focuses on achieving profitability.
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Original Source
Apnews — apnews.com