- It is third big layoff in recent months of Snap Inc.
- The company is citing reason of not meeting Company-wide goals.
Snap Inc. the parent company of popular Photo Sharing app, is laying off more than 120 Engineers. A spokesperson confirmed Thursday that it is laying off around 120 members of its engineering team. This comes a day after media reports first surfaced about the company’s plans to cut at least 100 jobs.
This is the third layoff in recent month and the biggest for the Snap Inc. For the first time, they are now hitting their technical team. The company says that the streamlined team will have “high technical bar” to perform.
“Having high-performance, technically excellent, and appropriately aligned teams will be critical to building both a compelling product and a compelling culture for engineers,” Jerry Hunter, head of Snap’s engineering team, said in a letter to employees. “We are doing this after a thoughtful and respectful review of each team member and with appreciation for the many contributions they have made to Snap.”
The layoffs come about a month after Snap posted its best quarter yet as a public company, adding 8.9 million daily active users in Q4 in 2017 while at the same time beating revenue expectations. Snap CEO Evan Spiegel had already told staff that the company would slow down hiring in 2018.
What is Snapchat?
Snapchat is a popular photo sharing app which is quite famous for its filters and unique face stickers. The app has evolved from originally focusing on person-to-person photo sharing to presently featuring “Stories” of 24-hour chronological content, along with “Discover” to let brands show ad-supported short-form entertainment. Snapchat has become notable for representing a new, mobile-first direction for social media, and places significant emphasis on users interacting with virtual stickers and augmented reality objects.