Snap Inc. has announced a new round of layoffs, with the company set to cull 10% of its global workforce as it continues to rationalize costs, and re-focus the business.
As reported by CNBC, Snap will cut around 500 roles as part of its latest cost and strategic review.
As per Snap:
“We are reorganizing our team to reduce hierarchy and promote in-person collaboration. We are focused on supporting our departing team members.”