Snap cuts 1,000 jobs
Snap said it will lay off roughly 1,000 employees, about 16% of its workforce, and framed the move as part of an AI-driven efficiency push. Reporting notes AI accounted for a large share of new code at the company, suggesting remaining teams will be asked to do more with fewer people. (techcrunch.com) (moneycontrol.com)
Snap is cutting about 1,000 jobs, or 16% of its full-time workforce, as it says artificial intelligence now lets smaller teams do more. (newsroom.snap.com) Chief Executive Officer Evan Spiegel told employees on April 15 that Snap will also close more than 300 open roles. He said the company expects to cut its annualized cost base by more than $500 million by the second half of 2026. (newsroom.snap.com) In the same memo, Spiegel said advances in artificial intelligence are reducing repetitive work and speeding up product development. Snap told investors that artificial intelligence agents now generate more than 65% of new code and answer more than 1 million queries a month. (cnbc.com) The cuts land as Snap tries to pivot from growth to profitability after years of uneven advertising performance and repeated restructurings. The company had 5,261 full-time employees at the end of December, so this round removes roughly one in six jobs. (finance.yahoo.com) (geekwire.com) Snap also faces pressure from activist investor Irenic Capital Management, which disclosed an economic interest of about 2.5% and urged the company last month to cut costs and rethink strategy. Reuters reported that Irenic had specifically pushed for layoffs and more aggressive use of artificial intelligence. (finance.yahoo.com) Investors initially welcomed the move. Snap shares rose about 7% in premarket trading on April 15 and closed nearly 8% higher that day, though the stock was still down about 25% to 31% for 2026 depending on the point of comparison cited in reports. (cnbc.com) (geekwire.com) (finance.yahoo.com) The layoffs are hitting technical teams as well as recruiters. A Washington state filing reviewed by GeekWire listed software engineers, machine learning engineers, data scientists, product managers, recruiting staff, and senior engineering leaders among 95 jobs being cut in Bellevue, Seattle, and Vancouver, Washington. (geekwire.com) Snap said United States employees who lose their jobs will get four months of severance, healthcare coverage, equity vesting, and career transition support. The company said restructuring charges should total $95 million to $130 million, with the process extending into the third quarter in some places because local laws vary. (newsroom.snap.com) (cnbc.com) This is Snap’s fourth major layoff round in recent years, after cuts in 2022, late 2023, and 2024. The latest message from management is that artificial intelligence is no longer just a product bet at Snap; it is now part of the company’s case for employing fewer people. (geekwire.com) (newsroom.snap.com)
