Snap Inc. announces layoffs, closure of open positions

Snap Inc. has announced that it will lay off around 1,000 employees, representing 16% of its workforce, and will also eliminate more than 300 open positions.

CEO Evan Spiegel informed employees of the decision in an internal memo, CE Report quotes Anadolu Agency.

“Today, we are announcing changes at Snap that will affect approximately 1,000 team members, including 16% of our full-time workforce, in addition to closing more than 300 open roles,” Spiegel said, adding that the decision was extremely difficult and that he feels deep regret for those impacted.

Spiegel recalled that last autumn he had warned the company was at a critical turning point, requiring a faster and more efficient way of working, with a focus on achieving profitable growth.

He noted that in recent months, the company has made difficult decisions to prioritize investments with the highest potential for long-term value, aiming to reduce annual costs by more than $500 million by the second half of the year.

Spiegel also emphasized the role of artificial intelligence, stating that rapid advances in AI are helping teams reduce repetitive tasks, increase speed, and better support users, partners, and advertisers.

“We are already seeing small teams make significant progress on major initiatives using AI tools,” he added.