Snap, the parent company of Snapchat, has recently announced a workforce reduction. Approximately 529 employees, accounting for 10% of the company’s total workforce, will be laid off. This is not the first time Snap has implemented layoffs; they have done so multiple times since 2022, with the most recent instance occurring in November of last year, albeit on a smaller scale.
During the significant downsizing in 2022, Snap had to let go of a larger number of employees. More than 1,000 individuals, representing a staggering 20% of the workforce, were affected by the company’s restructuring efforts.
TLDR: Snap, the parent company of Snapchat, is cutting its workforce by approximately 10%, resulting in the termination of 529 employees. This follows several previous rounds of layoffs, with the most recent one in November 2022 impacting a smaller number of individuals. In 2022, Snap had implemented a more substantial downsizing, leading to the dismissal of over 1,000 employees, equivalent to 20% of the workforce.
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