Snapchat owner to cut more than 120 engineers
Snapchat owner Snap Inc will cut just over 120 engineers and reorganize its engineering team.1
The maker of the smartphone app known for popularizing disappearing messages has been under pressure from investors to reduce costs after revenue fell short of analyst expectations during Snap’s first year as a publicly traded company.
The Southern California company will offer a package of benefits to those being laid off, according to the memo from Jerry Hunter, senior vice president for engineering.
1 Rueters – March 8th, 2018
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* Source – Brightscope