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Snap Lays Off 16% of Workforce

Snap said it was laying off about 16% of its workforce, or about 1,000 people, in an effort to reduce its cost base by $500 million and “establish a clearer path to net income profitability,” CEO Evan Spiegel said in a blog post. He added that advances in AI “enable our teams to…

Source: The Information · Opens in new tab