Snap Lays Off 22 Staff Members as Part of Reorganization
Snap Inc., the parent company of social video platform Snapchat, has let 22 employees go. The firings were part of a wider reorganization, as the company moves some teams to its Venice, California main office. Multiple divisions were impacted, and some of those let go were from the content team. Some employees were given relocation offers, while others were let go.
This isn't the company's first layoff, as it let approximately 12 people in the hardware team go in September. Before that, it fired 18 recruiters in October.
Snap went public in March 2017, and has seen its stock price slowly decline in the months since then. The company announced an interface redesign in December, but has been slow to roll it out. Cheddar reports that Snap plans to make the redesign available to all users by the end of the first quarter of this year.
The company's execs are apparently tired of all the negative press: Last week, Snap's general counsel sent a memo to all employees that threatened them with the loss of their jobs and jail time if they leaked confidential information to the press. “If you leak Snap Inc. information, you will lose your job and we will pursue any and all legal remedies against you," wrote general counsel Michael O'Sullivan. The memo was leaked to Cheddar.
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