Snap Cuts 100 Employees in Advertising in Third Round of Cuts
The familiar Snapchat ghost isn’t smiling now. In its latest round of downsizing, Snap Inc. (NYSE: SNAP) – the owner of the popular Snapchat app – is cutting 100 employees on the advertising side of the house, reports Bloomberg News. These employee cuts are in addition to the reduction of 120 engineers earlier this month and two dozen content employees who were let go in January. They are part of a restructuring the company started during the fourth quarter of last year.
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