Economy

Snap Layoffs: 22 Staffers Gone Across Content Division, Other Teams

Snap Layoffs: 22 Staffers Gone Across Content Division, Other Teams

Snapchat's parent company Snap has reportedly laid off roughly two dozen staffers - primarily within the company's content division.

Snap's content team, which reports to head of content Nick Bell, is consolidating its operations at the company's Venice, Calif., headquarters. The company made relocation offers to some employees as part of that process, and laid off others.

The layoffs were first reported by the Information (paywall).

Snap relies on human curators to sort through and promote public video snippets, which allow users to see on-the-ground coverage of popular events or developing news stories. CEO Evan Spiegel told staffers previous year that the company would slow down hiring in 2018, and the company laid off 18 members of its recruiting team in October.

Spiegel addressed the layoffs in a memo obtained by Cheddar, telling employees that while its editorial team is still important, "We also need to have an organization that scales internally".

More news: Air Lease Corp (NYSE:AL) Institutional Investor Sentiment Trend

News of the cutbacks comes the same day as the Snapchat owner also announced that is was doubling down on its app install offering, including a host of measurement tools, in the wake of its recent design overhaul.

Thought Snap didn't want to comment on when that redesign may arrive in the USA, other reports pin it at the end of Q1 this year.

Lastly, I'd like to make it very clear that our team is not here to win 2nd place.

Read the full memo over on Cheddar.


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