Snap is laying off 10 percent of its workforce - Best News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/aitesonics.com\/snap-is-laying-off-10-percent-of-its-workforce-161146546\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Snap is laying off 10 percent of its workforce - Best News\" \/>\n<meta property=\"og:description\" content=\"Snap, the parent company of Snapchat, is laying off 10 percent of its workforce, according to an SEC filingand confirmed by a company spokesperson. The company reported a total number of 5,367 employees at the end of 2023\u2019s third quarter, so the layoffs should impact around 540 people. Snap discussed the decision in the SEC […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/aitesonics.com\/snap-is-laying-off-10-percent-of-its-workforce-161146546\/\" \/>\n<meta property=\"og:site_name\" content=\"Best News\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-05T06:40:19+00:00\" \/>\n<meta name=\"author\" content=\"FOX NEWS\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"FOX NEWS\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/aitesonics.com\/snap-is-laying-off-10-percent-of-its-workforce-161146546\/\",\"url\":\"https:\/\/aitesonics.com\/snap-is-laying-off-10-percent-of-its-workforce-161146546\/\",\"name\":\"Snap is laying off 10 percent of its workforce - Best News\",\"isPartOf\":{\"@id\":\"https:\/\/aitesonics.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/aitesonics.com\/snap-is-laying-off-10-percent-of-its-workforce-161146546\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/aitesonics.com\/snap-is-laying-off-10-percent-of-its-workforce-161146546\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/7FsYC2TQsHn0VzKvFwWcvw--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD04MDA-\/https:\/\/s.yimg.com\/os\/creatr-uploaded-images\/2024-02\/9c1dd000-c43e-11ee-befd-af04c7a3d8dd\",\"datePublished\":\"2024-04-05T06:40:19+00:00\",\"dateModified\":\"2024-04-05T06:40:19+00:00\",\"author\":{\"@id\":\"https:\/\/aitesonics.com\/#\/schema\/person\/f5cf07a6ddf9e6df40835bbfb2fdf373\"},\"breadcrumb\":{\"@id\":\"https:\/\/aitesonics.com\/snap-is-laying-off-10-percent-of-its-workforce-161146546\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/aitesonics.com\/snap-is-laying-off-10-percent-of-its-workforce-161146546\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/aitesonics.com\/snap-is-laying-off-10-percent-of-its-workforce-161146546\/#primaryimage\",\"url\":\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/7FsYC2TQsHn0VzKvFwWcvw--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD04MDA-\/https:\/\/s.yimg.com\/os\/creatr-uploaded-images\/2024-02\/9c1dd000-c43e-11ee-befd-af04c7a3d8dd\",\"contentUrl\":\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/7FsYC2TQsHn0VzKvFwWcvw--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD04MDA-\/https:\/\/s.yimg.com\/os\/creatr-uploaded-images\/2024-02\/9c1dd000-c43e-11ee-befd-af04c7a3d8dd\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/aitesonics.com\/snap-is-laying-off-10-percent-of-its-workforce-161146546\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/aitesonics.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Snap is laying off 10 percent of its workforce\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/aitesonics.com\/#website\",\"url\":\"https:\/\/aitesonics.com\/\",\"name\":\"HOME\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/aitesonics.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/aitesonics.com\/#\/schema\/person\/f5cf07a6ddf9e6df40835bbfb2fdf373\",\"name\":\"FOX NEWS\",\"sameAs\":[\"http:\/\/aitesonics.com\"],\"url\":\"https:\/\/aitesonics.com\/author\/fox-news\/\"}]}<\/script>\n","yoast_head_json":{"title":"Snap is laying off 10 percent of its workforce - Best News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/aitesonics.com\/snap-is-laying-off-10-percent-of-its-workforce-161146546\/","og_locale":"en_US","og_type":"article","og_title":"Snap is laying off 10 percent of its workforce - Best News","og_description":"Snap, the parent company of Snapchat, is laying off 10 percent of its workforce, according to an SEC filingand confirmed by a company spokesperson. The company reported a total number of 5,367 employees at the end of 2023\u2019s third quarter, so the layoffs should impact around 540 people. Snap discussed the decision in the SEC […]","og_url":"https:\/\/aitesonics.com\/snap-is-laying-off-10-percent-of-its-workforce-161146546\/","og_site_name":"Best News","article_published_time":"2024-04-05T06:40:19+00:00","author":"FOX NEWS","twitter_card":"summary_large_image","twitter_misc":{"Written by":"FOX NEWS","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/aitesonics.com\/snap-is-laying-off-10-percent-of-its-workforce-161146546\/","url":"https:\/\/aitesonics.com\/snap-is-laying-off-10-percent-of-its-workforce-161146546\/","name":"Snap is laying off 10 percent of its workforce - Best News","isPartOf":{"@id":"https:\/\/aitesonics.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/aitesonics.com\/snap-is-laying-off-10-percent-of-its-workforce-161146546\/#primaryimage"},"image":{"@id":"https:\/\/aitesonics.com\/snap-is-laying-off-10-percent-of-its-workforce-161146546\/#primaryimage"},"thumbnailUrl":"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/7FsYC2TQsHn0VzKvFwWcvw--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD04MDA-\/https:\/\/s.yimg.com\/os\/creatr-uploaded-images\/2024-02\/9c1dd000-c43e-11ee-befd-af04c7a3d8dd","datePublished":"2024-04-05T06:40:19+00:00","dateModified":"2024-04-05T06:40:19+00:00","author":{"@id":"https:\/\/aitesonics.com\/#\/schema\/person\/f5cf07a6ddf9e6df40835bbfb2fdf373"},"breadcrumb":{"@id":"https:\/\/aitesonics.com\/snap-is-laying-off-10-percent-of-its-workforce-161146546\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/aitesonics.com\/snap-is-laying-off-10-percent-of-its-workforce-161146546\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/aitesonics.com\/snap-is-laying-off-10-percent-of-its-workforce-161146546\/#primaryimage","url":"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/7FsYC2TQsHn0VzKvFwWcvw--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD04MDA-\/https:\/\/s.yimg.com\/os\/creatr-uploaded-images\/2024-02\/9c1dd000-c43e-11ee-befd-af04c7a3d8dd","contentUrl":"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/7FsYC2TQsHn0VzKvFwWcvw--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD04MDA-\/https:\/\/s.yimg.com\/os\/creatr-uploaded-images\/2024-02\/9c1dd000-c43e-11ee-befd-af04c7a3d8dd"},{"@type":"BreadcrumbList","@id":"https:\/\/aitesonics.com\/snap-is-laying-off-10-percent-of-its-workforce-161146546\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/aitesonics.com\/"},{"@type":"ListItem","position":2,"name":"Snap is laying off 10 percent of its workforce"}]},{"@type":"WebSite","@id":"https:\/\/aitesonics.com\/#website","url":"https:\/\/aitesonics.com\/","name":"HOME","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/aitesonics.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/aitesonics.com\/#\/schema\/person\/f5cf07a6ddf9e6df40835bbfb2fdf373","name":"FOX NEWS","sameAs":["http:\/\/aitesonics.com"],"url":"https:\/\/aitesonics.com\/author\/fox-news\/"}]}},"_links":{"self":[{"href":"https:\/\/aitesonics.com\/wp-json\/wp\/v2\/posts\/1348"}],"collection":[{"href":"https:\/\/aitesonics.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/aitesonics.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/aitesonics.com\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/aitesonics.com\/wp-json\/wp\/v2\/comments?post=1348"}],"version-history":[{"count":0,"href":"https:\/\/aitesonics.com\/wp-json\/wp\/v2\/posts\/1348\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/aitesonics.com\/wp-json\/wp\/v2\/posts\/1348"}],"wp:attachment":[{"href":"https:\/\/aitesonics.com\/wp-json\/wp\/v2\/media?parent=1348"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/aitesonics.com\/wp-json\/wp\/v2\/categories?post=1348"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/aitesonics.com\/wp-json\/wp\/v2\/tags?post=1348"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}

news

{"id":1348,"date":"2024-04-05T06:40:19","date_gmt":"2024-04-05T06:40:19","guid":{"rendered":"https:\/\/aitesonics.com\/snap-is-laying-off-10-percent-of-its-workforce-161146546\/"},"modified":"2024-04-05T06:40:19","modified_gmt":"2024-04-05T06:40:19","slug":"snap-is-laying-off-10-percent-of-its-workforce-161146546","status":"publish","type":"post","link":"https:\/\/aitesonics.com\/snap-is-laying-off-10-percent-of-its-workforce-161146546\/","title":{"rendered":"Snap is laying off 10 percent of its workforce"},"content":{"rendered":"

Snap, the parent company of Snapchat, is laying off 10 percent of its workforce, according to an SEC filing<\/ins><\/a><\/ins>and confirmed by a company spokesperson. The company reported a total number of 5,367 employees at the end of 2023\u2019s third quarter, so the layoffs should impact around 540 people.<\/p>\n

Snap discussed the decision in the SEC filing, saying the layoffs would \u201cbest position our business to execute our highest priorities\u201d and ensure it has \u201cthe capacity to invest incrementally\u201d over time. The company told us the layoffs were necessary to \u201creduce hierarchy and promote in-person collaboration.\u201d None of those sentences really mean anything, so let's just go with "corporate restructuring."<\/p>\n

Snap said in the filing that it would be issuing severance packages to the impacted employees, but there's no specific information regarding package details. A Snap spokesperson confirmed to Engadget<\/em> that it's \u201cfocused on supporting our departing team members.\u201d<\/p>\n

These layoffs are happening just one day before Snap is scheduled to report fourth-quarter earnings for 2023. The company actually did pretty well in Q3, beating out Wall Street expectations by about five percent, according to <\/ins>Variety.<\/ins><\/em><\/a><\/p>\n

If tomorrow's earnings report is bad, it'll show why these layoffs are necessary. On the other hand, if it's better than expected, Snap may be announcing these layoffs now to avoid doing so after a quarter of financial gains. Nobody likes to see a big company massively reduce its headcount after bragging about earnings. Snap told us the company\u2019s in a \u201cquiet period\u201d until tomorrow\u2019s Q4 financial report drops.<\/p>\n

This follows another round of layoffs in November, in which Snap let go of 20 product managers.<\/ins><\/a> However, both of these news items pale in comparison to Snap\u2019s massive culling in 2022, which eliminated over 1,300 employees.<\/ins><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"