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SNAP CUTS 16% OF WORKFORCE TO REACH PROFITABILITY

Snap Inc. is laying off approximately 1,000 full-time employees, representing 16% of its global workforce. CEO Evan Spiegel announced the reduction as part of a cost-cutting initiative aimed at achieving profitability.

1 SOURCEFIRST SEEN APR 15, 10:25 AM► READ THE ARTICLE

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Memo: Snap CEO Evan Spiegel says the company plans to lay off ~1,000 full-time employees, or 16% of its global workforce, to cut costs and achieve profitability (Alexandra S. Levine/Bloomberg)

Alexandra S. Levine / Bloomberg: Memo: Snap CEO Evan Spiegel says the company plans to lay off ~1,000 full-time employee…

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