Snap Inc., Snapchat parent company, slashes workforce, turns to artificial intelligence [Yahoo! Finance]
Snap Inc. Class A (SNAP)
Last snap inc. class a earnings: 4/21 04:10 pm
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investor.snap.com/company-profile
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Source: Yahoo! Finance
The parent company of Snapchat announced Wednesday that it's cutting about 16% of its workforce in favor of artificial intelligence tools. File Photo by Monika Graff/UPI April 15 (UPI) -- Snap Inc., the parent company of messaging and social media app Snapchat, announced Wednesday that it's cutting up to 16% of its workforce worldwide and plans to use artificial intelligence tools for many tasks. This will affect about 1,000 people and cut about 300 open positions at the company. Evan Spiegel, the chief executive officer of Snap Inc., said in a memo to staff that AI will allow the company to be more efficient and profitable. "We believe that rapid advancements in artificial intelligence enable our teams to reduce repetitive work, increase velocity and better support our community, partners and advertisers," Spiegel wrote, CNBC reported The company's shares rose about 7% Wednesday after it announced the layoffs. Last month, a portfolio manager from activist investor Irenic Capi
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SNAP
News
- Snapchat CEO's tasteless Coachella photos kissing supermodel wife Miranda Kerr despite jobs bloodbath [Yahoo! Finance]Yahoo! Finance
- Swalwell was dubbed the 'Snapchat king of Congress' years before sexual misconduct scandal emerged [FOX News]FOX News
- Snap Was Always A Terrible Company [Yahoo! Finance]Yahoo! Finance
- INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Snap, Inc. - SNAPPR Newswire
- Snap (SNAP) had its "neutral" rating reaffirmed by Guggenheim. They now have a $6.50 price target on the stock.MarketBeat
SNAP
Earnings
- 2/4/26 - Beat
SNAP
Sec Filings
- 4/17/26 - Form 4
- 4/17/26 - Form 4
- 4/16/26 - Form 144
- SNAP's page on the SEC website