Snap To Lay Off 10% of Global Workforce

Social media company Snap said on Monday that it would lay off 10% of its global workforce, or around 500 employees, in part to "promote in-person collaboration." From a report: The company has executed multiple rounds of layoffs since 2022, most recently in November, when it trimmed a small number of product employees. The company expects it will incur charges ranging from $55 million to $75 million, according to a regulatory filing. The company's last major round of cuts was in August 2022, when it laid off 20% of staff and restructured its business lines.

Snap still exists?!?

[Qbertino]

I'm only half joking. I *do* know that Snap still exists, because I saw a newspost featuring them a while back. But I am surprised they're still around. Did they even turn a profit with their service? ... I remember the hype back in 2015 or so when they were supposed to supersede Facebook or something. LOL! These social-media/web-agency folks are really cute.

Re:

[sinkskinkshrieks]

Came here to say this. I guess it's all of the people who graduated Stanford c.2013, were kids in 2014-2016, or are drug dealers 2020-present.

Re:

[jonfr]

Snap is popular in some countries in Europe. But they are slowly going bankrupt. As is going to happen with all social media companies. Its just going to take longer with the largest ones (Meta).

In-person collaboration?

[Berkyjay]

How is laying off 500 people promoting this?

Re:In-person collaboration?

[serviscope_minor]

How is laying off 500 people promoting this?

Presumably this is exec speak for laying off remote workers.

Boomer Executive

[Anonymous Coward]

So, tldr; some boomer executive is upset that they can't talk at people in an office, so they flipped a desk over. Solution: Snap won't get competitive employees who will work remotely elsewhere.

Who the heck is Snap

[RedK]

And why do they have 5000 employees ?

Bidenomics is working

[gosso920]

80 million Americans aren't...

Re:

[sarren1901]

That has to be the dumbest thing I've seen written in a long time. For starters, there are 59 million people aged 0-14 and another 39 million 70+. So 98 million people that aren't working and wouldn't be expected to work.

I know you are just trolling, but your obsession with Biden is as bad as the people obsessed with Trump. Sad Sad Sad.

RTO = GTFO

[sinkskinkshrieks]

I will never take an interview with Snap.

2/ I miss fuckedcompany.com

[sinkskinkshrieks]

It was a source of layoff summaries. It was good shit. Unfortunately, the geniuses at Internet Archive didn't save a copy of it.

Re:

[sinkskinkshrieks]

US Library of Congress has an older version of it: archive here [loc.gov]

franchise

[BerniFlipster]

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