Snap Plans To Lay Off 20 Percent of Employees

Snap is planning to lay off approximately 20 percent of its more than 6,400 employees, The Verge reported Tuesday, citing people familiar with the matter. From a report: The layoffs, which Snap has been planning for the past several weeks, will begin on Wednesday and hit some departments harder than others, the people said. For example, the team working on ways for developers to build mini apps and games inside Snapchat will be severely impacted. Zenly, the social mapping app Snap bought in 2017 and has since run separately, will also see deep cuts. Another team that will see layoffs is Snap's hardware division, which is responsible for Spectacles and the Pixy camera drone that was recently canceled after being on sale for just a few months.

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