Snap is ready to cut about 16% of its global workforce, affecting nearly 1,000 employees. The move comes as one of its largest restructurings in recent years. The company said it will also eliminate about 300 open roles. The aim is to simplify operations and align teams with evolving priorities.
According to an internal memo, Evan Spiegel, CEO of Snap, said, “Today, we are announcing changes that will impact approximately 1,000 team members at Snap, including 16% of our full-time employees, in addition to closing more than 300 open roles. This is an incredibly difficult decision, and I am deeply sorry to the colleagues who will be leaving us. You have made important contributions to Snap, and we are committed to supporting you through this transition.”
Also Read: Oracle Begins California Layoffs, 700 Jobs Cut Expected by June
Spiegel further explained that AI will now power a major share of the company’s engineering output. Smaller teams can build and deploy faster with AI tools. By introducing automation, the company will reduce repetitive work, thereby improving productivity across all sectors.
Looking ahead, Snap aims to cut over $500 million in annual costs by the second half of 2026. The company expects near-term restructuring charges between $95 million and $130 million. Despite those costs, the long-term focus remains clear. Snap wants to achieve consistent profitability after years of uneven financial performance.
For the past few months, major tech giants have been laying off their employees. Most of them said it was done for cost-cutting amidst growing geopolitical conflicts. Some even highlighted the importance of an AI-powered workforce over human labor.
So far, the list has included Meta, Amazon, and Oracle, which have fired thousands of employees. Looks like Snap has now joined this growing list of big tech companies amid shifting market priorities.
Also Read: Take-Two Scales Back AI Ambitions With Unexpected Team Layoffs Amid GTA 6 Buzz