Snap laying off around 1,280 employees amid poor growth: Report

SAN FRANCISCO: Snap, the parent company of Snapchat, is reportedly laying off 20 pc of its workforce (around 1,280 staff), and its Chief Business Officer Jeremi Gorman is leaving to join Netflix. As per a report, citing sources, the layoffs that started from Wednesday will hit some verticals harder than others. Snap currently has over 6,400 employees. The team working on mini apps and games inside Snapchat will be severely impacted, the report said late on Tuesday. Another team to see layoffs is Snap’s hardware division, responsible for its AR Spectacles glasses and the Pixy camera drone. The company declined to comment on the layoffs.