The parent company of Snapchat, Snap Inc., will lay off around 20% of their global employees. The company has 6,400 global employees, and so the jobs of over 1,200 workers will be taken away. The CEO of Snap, Evan Spiegel, announced that the company is changing to focus on “three strategic priorities: community growth, revenue growth, and augmented reality.” Snap’s stock has tanked by over 75% since the start of the year, and they also fell massively last month, when the company reported horrible sales growth.
Source: https://www.cnn.com/2022/08/31/tech/snapchat-layoffs/index.html
