/cdn.vox-cdn.com/uploads/chorus_image/image/59201607/456877564.jpg.0.jpg)
Snap CEO Evan Spiegel Michael Kovac Getty Images for Vanity Fair
Now Snap Inc., the parent company of Snapchat is reportedly laying off 100 employees mostly in advertising and sales.
The latest round of layoffs follows a string of smaller cuts earlier this year.
"Over the past two years our company has grown a tremendous amount". People who had inside knowledge of the issue say this is the last round of cuts associated with a restructuring plan that was put into place past year.
"Late past year we asked senior leaders across Snap to look closely at their teams to ensure they had the right resources and organizations to support their missions, " Imran Khan, Snap's chief strategy officer, said in a written statement. "Tighter integration and closer collaboration between our teams is a critical component of sustainably growing our business".
A source inside the company told Recode that this is the last big cut planned as part of that restructuring.
No justification for Russian move to expel diplomats
Western officials say that numerous Russians are actually spies, and that the expulsions will hinder Russian espionage efforts. British authorities say a Soviet-era nerve toxin called Novichok was used in an attempt to murder the pair.
The Weeknd teases new music on Instagram
This week he posted a mysterious message suggesting his new project is right on the horizon. Last week (Mar. 22), he was reportedly spotted shooting a video of some sort in California.
Steelers confirm Ryan Shazier will not play in 2018
Colbert did say that teams had reached out to the Steelers about Bryant, but they "quickly dismissed those" inquiries. When Shazier's injury took him out of the rotation, the Steelers realized just how profound that depth problem was.
Bloomberg was first to report the layoffs.
After Snap's initial public offering a year ago, the company reported three straight quarters of disappointing revenue growth before finally delivering sales that blew past estimates in February. Snap had 3,069 employees as of the end of 2017; a spokesman declined to provide a current headcount.
The layoffs come after several high-profile executive departures and months of criticism about a recent Snapchat redesign, one that celebrities including Kylie Jenner have publicly derided but that investors say is needed to help attract more users.
Snap shares were down less than 1 percent to just under $16 during midday trading on the NYSE.
Recommended News
-
30 March 2018Faf reaches out to shamed Steve Smith
I think it's unfair for me to comment on what they think. "We try to do the same". "I think it s overdue". Smith and du Plessis formed a bond with during their stint as Indian Premier League teammates.
30 March 2018Wizards injury concerns mount as Porter leaves with ankle sprain
Upshaw appeared in 41 games with the Drive this season, averaging 8.5 points and 2.3 rebounds in 19.8 minutes per game. Going into halftime the game was knotted at 49, but the Wizards didn't turned up the energy until the fourth quarter.
30 March 2018Happ, Rizzo, Schwarber go deep as Cubs defeat Marlins
But the Cubs bats bailed him out immediately as Willson Contreras' double in the top of the fourth gave the Cubs the lead back. That, paired with timely defense, and a lights out bullpen made Jon Lester's shaky outing pretty much nonexistent. -
30 March 2018Big Bear softball team gets a win in Yermo
In the second period, Brandon Perez connected with Diego Escobar-Lam, who netted the Minutemen's final goal with 20:48 remaining. But as every NA3HL team does, their scouts have been scouting and in the process of signing players to tenders for next season.
30 March 2018Susan Rice Board Appointment Sparks Backlash — BoycottNetflix
Kennedy Center for the Performing Arts, the Bureau of National Affairs, National Democratic Institute, and the US Fund for UNICEF. Rice, a former USA national security advisor and ambassador to the United Nations , to its board of directors.
30 March 2018Watch A Tribe Called Quest's Final Music Video 'The Space Program'
Thank You 4 Your Service is available now! It all builds towards a powerful, thought-provoking ending. Following the video's premiere on Thursday (March 29), Q-Tip spoke to Zane Lowe about Phife's passing. -
Some Food For Thought: NextEra Energy, Inc. (NEE), Cars.com Inc. (CARS)
South Dakota Investment Council acquired a new position in shares of NextEra Energy in the 3rd quarter valued at $2,535,000. A low number in the 1-2 range typically indicates a Buy, 3 indicates a Hold and 4-5 represents a consensus Sell rating.
30 March 2018ISS astronauts to take spacewalk outside space station today
EDT as the astronauts prep for their walk and don their spacewalk suits called EMUs or Extravehicular Mobility Units . The system is created to take temperature measurements of plants all the way down on Earth.
30 March 2018Hopkinsville Police Officer shot to death
Authorities said the suspect took off in a stolen white Chevrolet pickup truck with Kentucky plates, according to WSMV . Christian County EMA officials said that police are actively searching are now searching for suspect James Decoursey. -
Exchange Capital Management Inc. Sells 8628 Shares of Merck & Co., Inc. (MRK)
Several other large investors also recently modified their holdings of MRK . 123 funds opened positions while 558 raised stakes. After $0.98 actual EPS reported by Merck & Co., Inc. for the previous quarter, Wall Street now forecasts 1.02% EPS growth.
30 March 2018Why Drug Overdoses Are on the Rise and Getting Worse in America
It also plans to widen access to naloxone, a drug which is used in emergencies to quickly reverse the effects of opioid overdose. A total of 63,632 Americans died of a drug overdose in 2016 - a 21.5% increase over the 2015 total, according to the report.
30 March 2018Top prospect Darius Bazley to skip college, sign with G League
I literally hang out with friends at home or I'm in the gym". Instead he'll try his luck in the G League. I'm not playing any games with this.
