Snap Inc., the parent company of Snapchat, has announced it will lay off about 1,000 employees, representing roughly 16% of its global workforce, as part of a major cost-cutting and restructuring drive.
The company said the decision is tied to its push to improve profitability and accelerate the use of artificial intelligence across its operations. According to CEO Evan Spiegel, advances in AI are helping reduce repetitive tasks and allow smaller teams to work more efficiently.
Snap is also closing more than 300 unfilled positions. The restructuring is expected to save the company over $500 million annually by the second half of 2026.
The layoffs place Snap among a growing number of tech firms reducing headcount while increasing investment in AI-driven tools and automation.
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