Snap Inc., the parent company of the popular social media app Snapchat, has announced it will cut around 1,000 jobs worldwide.
This represents about 16% of the company’s total workforce. The decision is part of a major restructuring plan to reduce costs and move the company towards consistent profitability.
In an internal memo to employees, CEO Evan Spiegel said the company will also remove more than 300 open positions. He expressed regret over the layoffs and wrote, “I am deeply sorry to those leaving us.”
The layoffs are expected to save the company more than $500 million per year starting from the second half of 2026. Spiegel said these cuts will help Snap focus on profitable growth and increase its use of artificial intelligence (AI) to improve the app.
Snapchat has been facing challenges in recent years due to slow user growth and tough competition from Instagram and TikTok. The company hopes that reducing costs and investing more in AI will help it become financially stronger.
This is not the first time Snap has carried out large-scale layoffs. The company had previously cut hundreds of jobs in 2022 and 2023 as well.
The latest round of job cuts has affected employees across different departments, including engineering, sales, and marketing. Many employees expressed disappointment on social media after receiving the news.
While the decision is painful for those losing their jobs, Snap’s leadership believes these steps are necessary to secure the company’s long-term future and achieve consistent profits.
