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Snapchat Parent to Lay Off 10% of Workforce, About 540 Employees
Snap, parent company of Snapchat, announced plans to lay off 10% of its global full-time employees.
On Monday (Feb. 5), Snap announced plans to lay off 10% of its global full-time employees. “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,” Snap said in an SEC filing. The latest job cuts come after Snap laid off 20% of its workforce, nearly 1,300 employees, in August 2022 and announced the shutdown of several initiatives, including ending Snapchat original series.
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