According to two individuals familiar with the preparations, Snap is in the early stages of contemplating layoffs.
The anticipated layoffs follow the company’s recent poor financial reports and failure to estimate profits for the third quarter, which sent its stock price plummeting to near-all-time lows. It’s unknown how many of Snap’s more than 6,000 workers will be laid off at this time since managers throughout the firm are still determining the full breadth of the layoffs for their teams.
