"This is an incredibly difficult decision, and I am deeply sorry to the colleagues who will be leaving us. Snap is facing a crucible moment that demands a new way of working that is faster and more efficient, with AI as the enabler."
"Small squads leveraging AI tools have already driven meaningful progress on Snapchat+, as well as ad-platform performance and infrastructure efficiency in Snap Lite."
Snap is reducing its workforce by approximately 1,000 jobs, representing 16% of its full-time employees, as part of a strategy to achieve over $500 million in annual cost savings. CEO Evan Spiegel emphasizes AI as a key factor in enhancing efficiency and profitability. The layoffs, which also include the closure of over 300 open roles, primarily affect product and partnerships teams. This reduction represents about a quarter of Snap's planned workforce by the end of 2025.
Read at TNW | Apps
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