Snapchat owner cuts 16% of global staff in latest round of job cuts

The owner of social media platform Snapchat said Wednesday it’s eliminating about 16% of its global workforce, or about 1,000 jobs that will be culled in its latest round of layoffs. 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,...