Snap Inc. to Cut 10% of Total Global Workforce in ‘Difficult Decision to Restructure’

Snap Inc. is the latest tech company to begin mass layoffs, as the company announced Monday that it plans to lay off 10% of its total global workforce, or roughly 500 employees.

“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 filing with the United States Securities and Exchange Commission dated February 5.

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