Snapchat is laying off 100 employees, the second in recent weeks
Celebrities attacking Snap is likely affecting Snapchat’s image and its bottom line. About two weeks ago, Recode discussed pop star Rihanna being the latest celebrity to sounding off on Snap after an advertisement went live seemingly promoting domestic violence. Now Snap Inc., the parent company of Snapchat is reportedly laying off 100 employees mostly in advertising and sales. This is the second round of layoffs in recent weeks. For now, there is no indication the announcement is affecting its stock.
“Over the past two years our company has grown a tremendous amount. Late last year we asked senior leaders across Snap to look closely at their teams to ensure they had the right resources and organizations to support their missions,” Chief Strategy Officer Imran Khan said in a statement. “As a result, new structures have been put in place for Content, Engineering, Sales and many other parts of Snap.”
Earlier this month, Snapchat said it was laying off “just over 120” engineers. “These changes reflect our view that tighter integration and closer collaboration between our teams is a critical component of sustainably growing our business,” Khan said. “While this process has required us to make some really tough decisions, we believe that rigorously ensuring our team structure always aligns with our goals will make us stronger.”
Snapchat lets anyone easily talk with friends, view Live Stories from around the world. Its messaging app popular in North America and Europe created by Evan Spiegel, Bobby Murphy, and Reggie Brown, former students at Stanford University, and developed by Snap Inc., originally Snapchat Inc