Snap Inc. plans to lay off approximately 10 percent (or 500 employees) of its workforce to navigate the challenging digital advertising market. The company aims to execute on its highest priorities and make incremental investments in future growth. Snap has previously done job cuts in 2022 and 2023. Despite offering a versatile range of services, Snap has faced setbacks in various areas. Evan Spiegel, Snap’s CEO, has set ambitious goals for 2024, but the company has consistently fallen short of its targets and faces declining ad growth due to Apple’s restrictions on user tracking.
Source: Gadgets News – Latest Technology News, Mobile News & Updates