April 17, 2026
Estimated reading time: 1 minute
The social media company jumps on the bandwagon.
Snap, the parent company of social media app Snapchat, is laying off 1,000 employees amid the growing ability of AI tools.
In an internal memo sent to employees on Wednesday, Snap said it is cutting 16% of its full-time workforce and closing more than 300 open roles, with the changes expected to reduce yearly costs by $500 million.
“Over the past several months, we have carefully reviewed the work required to best serve our community and partners, and made tough choices to prioritize the investments we believe are most likely to create long-term value,” said Snap chief executive and co-founder Evan Spiegel.
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April 17, 2026
