Snap Inc. lays off 1,000

The job cuts come as the social media firm struggles with a declining stock price and pressure from activist investors.

Spiegel expressed deep regret in a staff memo, stating that the company must adapt to a changing technological landscape by increasing its reliance on AI tools.

In addition to the layoffs, Snap has withdrawn over 300 open job roles as it seeks to stabilize its finances.

The move follows a broader trend of tech companies citing AI-driven efficiency as a justification for significant workforce reductions in 2026.