The teenage social network Snapchat will once again lay off hundreds of people (AFP/Archives/Kirill KUDRYAVTSEV)
Teen social network Snapchat will lay off hundreds of people again, joining other tech companies that are cutting staff at the moment.
Snap, the parent company of the application, announced Monday that it was letting go of 10% of its employees, or around 500 people. It had already dismissed 20% of its staff in the summer of 2022 (more than 1,200 people).
“We are reorganizing our team to reduce middle management levels and promote collaboration,” a Snap spokesperson said.
“We are committed to supporting our team members who are leaving the company and are very grateful to them for their hard work and many contributions to Snap,” the company added.
The company had just over 5,300 employees at the beginning of November.
Last spring, Evan Spiegel, who co-founded Snap in 2011, was pleased to have reached 750 million monthly users, “the vast majority of whom are 13-34 year olds in more than 20 countries.”
But unlike Meta (Facebook, Instagram, WhatsApp), Snap has never managed to earn enough advertising revenue to generate an annual profit.
In 2022, its net losses tripled to $1.43 billion. The Californian group is due to present its quarterly and annual results on Tuesday.
Snapchat has built its success on ephemeral photo and video messages, which have been copied by its rivals, and on augmented reality filters.
But the company has not succeeded in diversifying into electronic equipment, such as connected glasses.
According to the website layoffs.ai, which tracks layoffs in the technology sector, 32,000 jobs have been lost in this field since January 1.
The cuts are not on the same scale as at the end of 2022 and the beginning of 2023, when tech companies laid off hundreds of thousands of people.
It was then a backlash to the hiring frenzy linked to the pandemic, when groups recruited wildly to meet the demand of consumers whose daily lives had migrated online.
© 2024 AFP
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