Snapchat‘s next round of layoffs may affect about 3% of its total workforce. According to Cheddar, the messaging app’s parent company Snap Inc. is preparing to cut about 100 jobs, primarily within its engineering department.
These job cuts will be Snap’s second in three months. Back in January, it laid off about 24 staffers, many of whom worked within its content division. That decision itself came two months after another round of pink slips, which affected employees across multiple Snapchat teams. When the October cuts happened, Snapchat CEO Evan Spiegel said his company would have to “slow hiring” in 2018.
The latest layoffs will affect about 10% of Snap’s engineering team, Cheddar said. According to an SEC filing, Snap had 3,069 employees at the end of the year last year. If my math is correct, 100 is about 3% of 3,069.
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Job cuts at Snap are not unexpected, given the rough sailing the app has had on the market since announcing its IPO about a year ago. The company’s stock price has be going down of late (perhaps because of Kylie Jenner), and Snap continues to trail behind its main competitor Instagram in terms of Stories users.
While it flounders, Snap is still looking toward its future. It has urged users to be patient with a much-criticized redesign it recently rolled out, and has agreed to tweak its layout in response to user demand. It is also reportedly working on new versions of its wearable Spectacles, which had a limited impact after first rolling out last year.
Snapchat did not comment on Cheddar‘s report.