In a memo to employees, CEO Sasan Goodarzi said the layoffs are meant to reduce complexity, simplify the company's corporate structure, and deliver better AI products.
The company cites advancements in AI for the cuts.
Snap is laying off roughly 16 percent of its global workforce in a cost-cutting effort to chase improved profitability with the help of AI. The cuts will impact around 1,000
Snap is laying off 16 percent of its staff as it leans into AI
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