Snap Lays Off 1,000 Employees in Cost-Cutting Move

Snap Inc., the parent company of the social media platform Snapchat, announced on Wednesday that it is laying off approximately 1,000 employees, representing about 16 percent of its global workforce. The Santa Monica, California-based firm, which had 5,261 full-time employees as of December 31, 2025, also plans to leave more than 300 open positions unfilled as part of a broader restructuring to cut costs and improve efficiency.

In a memo to staff, Chief Executive Officer Evan Spiegel described the decision as difficult but necessary to position the company for long-term growth. "Last fall, I described Snap as facing a crucible moment, requiring a new way of working that is faster and more efficient, while pivoting towards profitable growth," Spiegel wrote. He emphasized that recent reviews of operations led to tough choices aimed at prioritizing investments that create value for the community and partners. The changes are expected to reduce the company's annualized cost base by more than $500 million by the second half of 2026, accelerating progress toward net-income profitability.

Spiegel highlighted the role of artificial intelligence in enabling smaller teams to operate more...