Snap Inc. lays off at least two dozen amid slowed user growth and engagement [News]
By Jack Barnes
Snap has since confirmed these layoffs, which largely affect those on the content teams in the New York and London offices. More than half of the two dozen employees laid off today were part of the content team.
Snap tells TechCrunch that what’s left of the content division will now move to the company’s Venice, California location and that it will continue to hire on the content team. According to Snap, this is just part of finding the right people for the job.
These layoffs also may not have been unexpected, as they are part of a reorganization effort to cut costs due to the lackluster growth at the six-year-old company.
Investors have been pressuring Snap to grow its user base, but so far the company has fumbled in key areas such as hardware and a much anticipated app redesign, which has had a delayed rollout to the United States. This redesign has worried some publishers as it may affect their traffic.
Thought Snap didn’t want to comment on when that redesign may arrive in the U.S., other reports pin it at the end of Q1 this year. Read More…
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