https://techcrunch.com/2024/02/05/snapchats-parent-lays-off-10-of-workforce-in-order-to-reduce-hierarchy-says-company/

Snapchat maker Snap is the latest tech company to conduct layoffs with its newly announced plans for a 10% workforce reduction, the company said on Monday. The layoffs would impact roughly 500-plus employees, based on headcount figures Snap released in November 2023, when it saw small-scale layoffs of its then north of 5,000 employees.

The layoffs were announced in an SEC filing, where Snap explained the move was necessary to support its further growth.