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Snap Axing 1,000 Staffers, 16% of Headcount; CEO Evan Spiegel Cites AI as Helping Boost Efficiency for Smaller Teams

Snap, parent company of Snapchat, is making a massive workforce reduction -- eliminating 1,000 jobs, representing 16% of its current employees, in a move to accelerate net profitability. In addition, the company is closing 300 open roles.

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