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Snap, the American company that owns the social network Snapchat, has announced that it will cut a further 10% of its staff worldwide – meaning around 500 employees.
CNBC reports this, according to Ukrinform.
The company estimates that such a decision would cost it $55 to $75 million.
Snap has already made several layoffs since 2022, laying off a small number of employees working on its products, most recently last November.
The company’s last round of “large-scale” layoffs took place in August 2022, when it laid off 20% of its staff and restructured its business lines.
Snap is said to be one of the few tech companies continuing layoffs in 2024. In total, nearly 24,000 employees of tech companies lost their jobs in January alone. Already this month, Okta and Zoom also announced layoffs.
As reported by Ukrinform, video conferencing platform Zoom announced the reduction of approximately 150 employees (that’s almost 2% of the staff).
Photo: “happy monday”
Source: Ukrinform
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