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Snap Inc. said in a regulatory filing that the job cuts will
cost about $95 million to $130 million in severance payments and
related costs.
“The headcount reduction is designed to further streamline our
operations and reallocate resources toward our highest-priority
initiatives, leveraging increased operational efficiencies to
accelerate our path toward net-income profitability," the
company said in its filing.
Snap had 5,261 full-time employees as of Dec. 31, 2025, the
company said in its latest annual report.
CEO Evan Spiegel said in a letter to staff that another 300 open
roles would not be filled.
It's not the first time the Santa Monica, California-based
company has eliminated jobs. In 2024, Snap cut 10% of its
workforce, or about 530 employees.
Snap cut 3% of its staff in late 2023, and in 2022 it slashed
its workforce by 20%.
Snapchat, which is popular with young people and known for its
disappearing photos and videos, has 474 million users every day,
on average, according to the annual report.
Snap said in its latest earnings report that its net loss in
2025 narrowed to $460 million, as revenue rose to $5.9 billion.
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