Memo: on top of cutting 20% of its staff, Snap is canceling its original shows, in-app games, and several other projects; layoffs could save $500M annually
Snapchat's original shows, in-app games, and camera drone are no more — Snap is laying off around 20 percent of its more than 6,400 employees …
#BREAKING: Major @Snap restructuring, per Evan Spiegel memo just went out — 20% layoffs (1200+ staffers) — Investment pullbacks in originals games, selfie drone “Pixy” & “Minis” — Jerry Hunter promoted to COO — Anticipates $500M savings Story on @axios: https://www.axios.com/...
Snap confirms that it is laying off 20% of employees and cancelling several initiatives, including its original shows and in-app games https://t.co/5ApA571o0l https://t.co/yfX2hKlk4V