Snapchat Sees Second Layoff Round in a Month, 100 More Cut
Did Snap, parent company of Snapchat, pick the wrong moment to go public? The company announced its second round of layoffs in a month, cutting 100 more employees, mostly from the sales team. Bloomberg broke the news, noting that the company fired 120 workers from its engineering team earlier in March. In January, Snap let 22 people go, mostly from its content team.
While there are certainly several empty desks at Snap these days, its far from an empty building. After two years of staffing up the company counted over 3,000 employees at the end of last year. With Instagram continuing to dominate the image-based social networking area, Snapchat seems to have been greatly overstaffed.
Snapchat put a brave face on the news, saying that this will result in a better working environment:
“These changes reflect our view that tighter integration and closer collaboration between our teams is a critical component of sustainably growing our business,” says Imran Khan, chief strategy officer for Snap, in a prepared statement. “While this process has required us to make some really tough decisions, we believe that rigorously ensuring our team structure always aligns with our goals will make us stronger.”
Not that all news has been bad for Snap: The company beat analyst expectations with its Q4 2017 results, adding 8.9 million daily active users.
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