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. Evan Spiegel, co-founder and CEO of Snap, said in a memo to employees that the management team believes […]