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Snap To Lay Off 10% Of Global Workforce
Snap, parent of Snapchat, said to today it plans to reduce its global headcount of full time employees by about 10%, its latest round of staff cuts amid copious layoffs in the tech sector. “In orde…
Xinhua/ Wang Ying via Getty Images Snap, parent of Snapchat, said to today it plans to reduce its global headcount of full time employees by about 10%, its latest round of staff cuts amid copious layoffs in the tech sector. “In order to best position our business to execute on our highest priorities, and to ensure we have the capacity to invest incrementally to support our growth over time, we have made the difficult decision to restructure our team,” the company said in an SEC filing. The charges that we expect to incur are subject to a number of assumptions, including local law requirements in various jurisdictions, and actual expenses may differ materially from the estimates disclosed above.
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