Snap is cutting 1,000 jobs, 16% of its workforce

What Happened

Snap is laying off approximately 1,000 full-time employees, representing 16% of its global workforce, according to CEO Evan Spiegel's memo. The company cites artificial intelligence advancements enabling teams to reduce repetitive work and increase efficiency. Snap is also closing over 300 open roles. The cuts aim to reduce annualized costs by over $500 million by mid-2026, supporting the path to profitability. U.S. employees receive four months severance and benefits.

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