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As per the company, the layoffs were not related to any single product and were part of the company’s goal to boost decision-making speed and minimise overhead, reports CNBC.
The news was first reported by The Information.
The job cuts come after Snap recently posted third-quarter earnings in which its overall sales grew 5 per cent (year-over-year) to $1.19 billion, beating analyst expectations.
As a result, Snap stated that it would not issue formal instructions “due to the unpredictable nature of war”, the report mentioned.
In September, Snap sacked nearly 170 employees from its augmented reality (AR) enterprise division and shut down the unit.
Last year, the company laid off 20 per cent of its workforce, roughly 1,280 employees from its 6,400-strong headcount, saying that it “must face the consequences of lower revenue growth and adapt to the market environment”.
According to the company, it currently has roughly 5,000 employees.
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