Snapchat is one of the most popular and favorite social media apps for the Gen-Z generation. The company has been on the edge for quite some time and is therefore letting off 20% of its employees. Go through the entire article to learn more about this news.
Firing of Staffsnap
Recent reports given by The Verge suggest the company which has approximately 6,400 employees working under it will be letting go of 20% of its employees. It has been suspected that some sections will get hit more than the other sections. Snap Mimis, the section that works on creating games for the app will face the harsh consequences of this decision. Even Zenly, the app that Snap bought in the year 2017, will be firing employees. Other sections that will go through firing include hardware division and a pixy drone camera. Hardware hasn’t seen a growth in revenues for quite a while even though its performance has been excellent. This announcement comes right after the CBO is leaving the company to join Netflix.
The reason behind this development
Although Snap has not responded to this announcement, the reports claim that the reason behind this development is lower costs in this slow economy. According to a source, Snap has already started the layoff and will be starting the process of firing employees soon enough. Even Speigel reportedly announced that the company will be taking a back step in hiring employees so that it can have some additional savings. It might interest you to know that it is not only Snap that is taking this big step Other companies like Microsoft, Alibaba, Tiktok, etc have let go of employees because of the same reason. Meta CEO, Mark Zuckerberg was reported to say that many employees working in this company were not worthy of their position.
For people who don’t know much about Snap, it is well known social media app. The company works on the belief that by making new innovations in the camera, they will be able to help people enhance their quality of life and communication. They play a role in human progress that helps people express themselves in the best way possible and have fun while doing so. Snapchat also makes an effort to safeguard teenagers on the online platform by introducing a family center. This is a feature specially made for parents so that they can see the people their child is talking to and is friends with, although their chats won’t be visible.