The owner of Snapchat is cutting around 10% of its aroundtheworld laborforce, or about 530 workers, the newest tech business to reveal layoffs
ByMICHELLE CHAPMAN AP company author
February 5, 2024, 10: 52 AM
The icon for immediate messaging app Snapchat is seen on a smartphone, Feb. 28, 2023, in Marple Township, Pa. The owner of Snapchat is cutting roughly 10% of its aroundtheworld laborforce, or about 528 workers, simply the mostcurrent tech business to reveal layoffs. Snap Inc. stated in a regulative filing that it presently approximates $55 million to $75 million in charges, primarily for severance and associated expenses. (AP Photo/Matt Slocum)
The Associated Press
The owner of Snapchat is cutting around 10% of its aroundtheworld laborforce, or about 530 staffmembers, the mostcurrent tech business to reveal layoffs.
Snap Inc. stated in a regulative filing that it presently approximates $55 million to $75 million in charges, mainly for severance and associated expenses. It anticipates the bulk of the expenses to be sustained in the veryfirst quarter.
This isn’t the veryfirst time Snap hasactually gottenridof tasks. The Santa Monica, California-based business revealed in August 2022 that it prepared to cut about 20% of its international laborforce. In the 3rd quarter of 2023, it started winding down its AR Enterprise service, which consistedof lowering its worldwide worker headcount by around 3%, airconditioning