Bloomberg Technology

Snapchat Parent Cutting 20% of Workforce

Snapchat’s parent company is slashing staff and scaling back investments in straggling businesses, an attempt to rein in costs following a slowdown in ad revenue growth. Snap Inc. is cutting about 20% of its workforce, Chief Executive Officer Evan Spiegel said in an internal memo sent to staff Tuesday. The news sending the stock tumbling in the premarket. Abigail Doolittle reports…

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Snapchat’s parent company is slashing staff and scaling back investments in straggling businesses, an attempt to rein in costs following a slowdown in ad revenue growth. Snap Inc. is cutting about 20% of its workforce, Chief Executive Officer Evan Spiegel said in an internal memo sent to staff Tuesday. The news sending the stock tumbling in the premarket. Abigail Doolittle reports on “Bloomberg the Open.”

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4 Comments

  1. G. Jets

    August 31, 2022 at 2:36 pm

    this is only the beginning, PREPARE…

    Reply

  2. Ace

    August 31, 2022 at 5:27 pm

    They should of pulled a Tik Tok before TikTok

    Reply

  3. Shahar Rozenbloom

    August 31, 2022 at 11:01 pm

    Apple Could Add Google and AWS and Ajure Cloud to Apps Easy in killer idea even with Code in new Service in killer idea Tim for Tens of Billions in Patent even add Lower Price by Large Amounts.

    Reply

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