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Snap lays off 16% of workers, citing ‘rapid advancements’ in AI. Read the memo it sent to staff.

Finance April 15, 2026

Snap has become the latest tech company to announce sweeping layoffs. Loading audio narration… In a memo to employees released in a regulatory filing on Wednesday, CEO Evan Spiegel said Snap would cut 1,000 employees, about 16% of its global workforce, citing “rapid advancements” in AI and “small squads” using…

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