Tuesday, February 6, 2024

Snap plans to lay off 10% of its employees worldwide


The Snapchat parent expects pre-charge charges in the scope of $55 million to $75 million, fundamentally comprising of severance and related costs.

Snap joined other tech and media companies in recently announcing layoffs, announcing on Monday that it would reduce its workforce by approximately 528 workers, or 10% of its global workforce.

Portions of the organization rose over 2% in exchanging before the ringer.

The Snapchat parent expects pre-charge charges in the scope of $55 million to $75 million, fundamentally comprising of severance and related costs, and different charges, of which $45 million to $55 million are supposed to be future money uses.

Most of these expenses are supposed to be brought about during the principal quarter of 2024.

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