Snapchat Parent Company To Lay Off 100 Engineers
Snap Inc., Snapchat's parent company, is laying off 120 employees from their engineering team.
A hundred people laid off would equal to nearly 10 percent of Snap's engineering team. This would be Snap's largest layoffs yet, according to CNBC.
"I know this is a challenging moment, but I am convinced that this is an important step to help us build the future of Snap," Jerry Hunter, Snap Senior Vice President of Engineering, wrote in an email obtained by Cheddar Inc.
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"Having high-performing, technically excellent, and appropriately aligned teams will be critical to building both a compelling product and a compelling culture for engineers," Hunter added. "That required us to think carefully about the shape of the organization, and where each member of our team fits."
The senior vice president further wrote that they had given deep thought about laying off the employees and their respective contributions to the company. The cuts would be announced by the company internally within a week, told Reuters.
Before this, the company has been lessening their employees for several months already, but this particular layoff is the first to affect the company's engineers. Last month, Snap released an updated version of Snapchat wherein the publisher content was separated from the content by the user's friends.
As of the December quarter, Snap reported having a little more than 3,000 employees. Last year, the company had already laid off about a couple dozen employees from their hardware and recruiting divisions. In January, Snap cut two more dozens of employees.
Over the last two years, Snap had employed 2,400 people. Snap Chief Executive Officer Evan Spiegel said then that they would moderate the growth of Snap in 2018 to make sure that each employee is "aligned with our values."
According to Bloomberg, Snap had failed to give out year-end cash bonuses for their employees last year because their company goals had not been met.
