Snap's stock jumps 7% after announcing plans to lay off up to 16% of its workforce
CNBC
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Snap was up in premarket trading on Wednesday after announcing plans to lay off up to 16% of its global workforce in an effort to streamline operations.
Snap Inc. Lays Off 1,000 Staff
- Snap Axing 1,000 Staffers, 16% of Headcount; CEO Evan Spiegel Cites AI as Helping Boost Efficiency for Smaller Teams Variety —
- Snap Inc blames AI as it lays off 1,000 workers The Guardian —
- Snap to Cut 16% of Its Workforce in Quest for Profitability Bloomberg —
- Snap Is Laying Off 16% of Full-Time Staff as It Embraces A.I. The New York Times —
- Snap Announces Mass Layoffs Newsweek —