Snapchat’s Parent Set to Lay Off 10% of Global Workforce to ‘Reduce Hierarchy’

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The Western Journal

The parent company of Snapchat — Snap — is laying off about 10 percent of its workforce as layoffs continue to stalk the tech sector. Snap announced the cut Monday, which will impact more than 500 employees, according to TechCrunch, which noted that as of last year’s third quarter, Snap had 5,367 workers. “In order to best position our business to execute on our highest priorities, and to ensure we have the capacity to invest incrementally to support our growth over time, we have made the difficult decision to restructure our team,” the company said in a Securities and Exchange Commission fi…

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