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Snap Inc. Cuts Workforce by 10% for Strategic Realignment

Curatorious

By Curatorious
in Layoffs

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Curatorious Contributor

Curatorious

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Snap Inc. is set to reduce its workforce by 10%, impacting approximately 500 employees, in a bid to enhance in-person collaboration and streamline its structure. This move is part of a broader wave of layoffs within the tech industry, with Snap having previously undertaken significant job cuts. The company anticipates charges of $55 million to $75 million due to this restructuring. This development is indicative of the ongoing adjustments in the tech sector aimed at improving operational efficiency amidst evolving market conditions.

Sources: CNBC, Reuters

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