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Briefing

Snap Lays Off 20% of Staff, Cuts Projects

By
Kaya Yurieff
· · Source: The Information

Snapchat on Wednesday announced it’s laying off about 20% of its workforce and discontinuing several projects. “Unfortunately, given our current lower rate of revenue growth, it has become clear that we must reduce our cost structure to avoid incurring significant ongoing losses,” CEO Evan Spiegel wrote in a note to employees published by Snap. The social app said its three priorities will...

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