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 https://newsroom.snap.com/organizational-changes-at-snap">said in a blog post.
He added that advances in AI “enable our teams to reduce ...
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