After cutting jobs for roughly 120 engineers earlier this month and 22 staffers across the company in January, Snapchat is downsizing its staff yet again—and its latest round of layoffs targeted its advertising department. Snap is laying off 100 employees, which roughly equates to 3 percent of its total workforce. (Adweek)
The cuts represent the final step in a restructuring process set in motion in the fourth quarter. (Bloomberg)
Layoffs never look good at a company, and for Snapchat, it comes at a time when celebrities like Chrissy Teigen have abandoned the app. Teigen took issue with Snapchat’s regrettable decision to run an insensitive ad asking users to “slap Rihanna” or “punch Chris Brown.” Other high-profiles users like Kylie Jenner and MKBHD have spoken out against the recent redesign. (Mashable)
It’s been just over a year since Snap went public, and it’s clear the company is still finding its footing. Its business has been inconsistent, but Snap just had its best quarter at the end of 2017, and CEO Evan Spiegel has said internally that he wants to get to profitability by the end of the year. Investors didn’t seem concerned with Snap’s layoffs: The stock was up less than 1 percent. (Recode)