Snap to lay off one in five employees as losses mount

Snap CEO Evan Spiegel has confirmed layoffs at the struggling social media biz, telling employees in a letter that 20 percent of them will lose their jobs, mostly from teams working on one of the variety of projects it also plans to ax. The letter, leaked to The Verge not long after it was sent to staff this morning, reveals …

[Fruit and Nutcase]

Snap-off

staff

[Phil Kingston]

Re: Snap-off

Snap in half

[Gene Cash]

"limited visibility into its potential forward-looking revenue"

You mean "we can't see making money any time soon"

[Mark Exclamation]

So, three new regional presidents. Sacking 1300 staff should keep it cost-neutral, then.

[ecofeco]

Oh Snap!

See title.

[Captain Scarlet]

erm

Am I the only one thinking, wtf is this company called Snap (Without Googling)?

Oh right I completly forgot that was a thing

[Michael Wojcik]

Re: erm

Indeed. After reading the article I had to do multiple searches to figure out what the hell it was about, since "snap" is not a particularly useful search term.

I don't believe I've ever heard anyone I know personally mention using Snapchat, much less anything else from Snap's absurdly broad line of products. I'm not surprised someone has decided to slash that down.

I do hope they don't discontinue the line of delicious Snap Chocolate Biscuits, though. "They disappear in seconds!"

[Anonymous Coward]

"Growing the community" is usually cryptospeak for "duping as many people as we can before pulling the rug and disappearing with their money. Not a sensible phrase for anyone else to use.

[iron]

The end of Snap's Pixy drone is a shame, those things are cool and I was considering buying one when the announcement was made.