Tuesday, October 21, 2025
spot_img

Snap laying off around 1,280 employees 

spot_img
- Advertisement -

The parent company of Snapchat, Snap is laying off 20 percent of the workforce which is nearly 1,280 employees.

According to a report in The Verge, The company has been planning these layoffs for several weeks. The layoffs which began on Wednesday will impact certain verticals more than others. Snap is currently employing more than 6,400 people.

The company’s Chief Business Officer Jeremi Gorman is resigning and he will be joining Netflix. According to the reports, The team has been working on the mini-apps and games inside Snapchat which will be severely impacted.

Further, another Snap team that will be affected by the layoffs is the hardware division. The hardware division is majorly responsible for its AR Spectacles glasses and the Pixy camera drone.

In May, Snap announced to slow down hiring this year. Like many tech companies, Snap continues to face rising inflation and interest rates, supply chain shortages and labour disruptions, platform policy changes, the impact of the war in Ukraine, and more.

Snap, the parent company of Snapchat, suffered nearly $10 billion loss and its shares hit a new 52-week low over disappointing quarterly results last month. The company reported a net loss of $422 million compared to $152 million in the prior year as it “substantially” reduced hiring.

Snap has joined companies like Microsoft, Twitter, TikTok, Meta, and Google who have either laid off employees or freezed new hirings.

The development of either layoff or hiring slowdown comes after IT companies, crypto exchanges, and financial firms cut out jobs and slow down the hiring process due to slow global economic growth caused by higher interest rates, rising inflation, and an energy crisis in Europe.

spot_img

Editorial

Why TCS Deferred FY25 Salary Hike: Better Hike Ahead?

TCS had initially announced its annual salary hike during...

Deloitte, PWC, EY, KPMG to Hire 1 Lakh People in India in FY25

According to estimates from top company officials and industry...

Higher EPS Pension Application Stuck: A Step-by-Step Guide to Fix

Nearly 97,640 Provident Fund (PF) members and pensioners under...

Employee Benefits at India’s Big 4 Firms Deloitte, PwC , EY, KPMG

The Big 4 firms; Deloitte, PwC (PricewaterhouseCoopers), EY (Ernst...

TCS Announces 4-8% Salary Hike for FY25, Lowest in Last 4 Years

Tata Consultancy Services (TCS), India's largest IT services provider,...

Must Read

KFin Technologies launches Mumbai office plans to hire over 300 people

Financial services platform KFin Technologies has announced the launch...

RateGain elevates Sahil Sharma to CHRO

A leading provider of SaaS solutions for travel and...

upGrad Ex-Director HR Sanjeev Jha joins Research and Ranking

Research & Ranking, the equity investment advisory brand under...

Zepto Denies Allegations as Toxic Workplace Claims Go Viral

Zepto, the fast-growing quick-commerce startup, is facing serious allegations...

VinFast Inducts 200 Employees, Eyes 3,500 Jobs in Tamil Nadu

VinFast Auto India, the subsidiary of Vietnam-based electric vehicle...

Freshers to work 18 hours a day CEO’s advice: Facing Criticism

Shantanu Deshpande, Founder and Chief Executive of Bombay Shaving...

Capgemini emphasizes Pride Month as more than mere dates

Like its global counterparts, Capgemini in India celebrates Pride...

Walmart cuts paid leave in half for COVID- 19 positive workers

Walmart Inc. workers in the United States who must...

Related Articles

Sheenu Pradhan
Sheenu Pradhanhttps://sightsinplus.com/
Sheenu Pradhan, Editor Content, SightsIn Plus. She has over 8 years of experience in human resources. Prior to this, she has been associated with Wictor Chemicals India, Wipro, and Shakti Plas Industry.