Snap to lay off 1,000 employees, CEO Evan Spiegel’s memo puts it on AI
Snapchat’s parent company is laying off 16% of its global workforce, impacting around 1,000 employees, as it pivots towards profitable growth and integrates AI to enhance efficiency. CEO Evan Spiegel announced the move, aiming to slash costs by over $500 million by 2026 to achieve net-income profitability.
