Variety
·entertainment
·14 hours ago
Snap cuts 1,000 jobs to boost profitability and reduce costs
Snap announced on Wednesday it will cut 1,000 jobs, representing 16% of its workforce, to increase profitability. CEO Evan Spiegel stated that advancements in artificial intelligence will help smaller teams work more efficiently. The layoffs are expected to reduce annual costs by over $500 million by the second half of 2026.
Summary by Glance · Variety
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