Snap To Cut 1,000 Jobs After Activist Pressure, Bets On AI Efficiency
Cristiana Gigina
The social media firm's shares rose 5.8%. The stock has fallen about 31% so far this year. April 15 (Reuters) - Snap SNAP.N will lay off about 1,000 employees, including 16% of full-time staff, the company said on Wednesday, becoming the latest tech firm to shift toward leaner teams as it ramps up AI adoption to streamline operations. The move, which also includes the closure of more than 300 open roles, comes weeks after Irenic Capital Management pushed the Snapchat parent to optimize its
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