Snap to lay off 10% of its workforce as spate of job cuts continue
Tue, Feb 6, 2024 1:05 PM

Snap to lay off 10% of its workforce as spate of job cuts continue

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Tech giant Snap announced it will cut 10% of its global workforce, or around 528 employees, in an effort to reduce costs and improve revenue growth. The company has long struggled to compete with larger rivals like Facebook and is facing economic uncertainty. This move could be an attempt to appease investors, who have rewarded competitors for cost-cutting measures. Snap expects pre-tax charges.

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