Snapchat parent Snap to lay off approximately 20% of its workforce (that is approx 1, 300 employees). According to the report, the Snap Minis team, which has been working on games for the app, will be severely impacted. Zenly, a social mapping app acquired by Snap in 2017, will also lay off workers.
Snap’s hardware division, which is responsible for AR Spectacles glasses and the Pixy drone camera, is another team that will reportedly be laid off. Despite doing a good job of producing notable hardware, the department was unable to achieve revenue success. This news comes as Snap’s own chief business officer, Jeremi Gorman, is leaving for Netflix. Snap has not confirmed the development, but it is not the only big tech company to lay off workers to cut costs amid a slowing economy.
