Snap Laid Off 7% Of Its Workforce, Citing ‘Structural Changes’ In Its Business

Snap acknowledged it laid off about 7% of its workforce this month, primarily in engineering and sales, as it responded to what it vaguely describes as “structural changes” in its business. The company said it will incur $10 million in expenses associated with the job cuts, though it expects to realize a savings of about $25 million this year in reduced payroll and taxes. “The reduction in force is to align resources around our top strategic priorities and to reflect…

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