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Snap conducts a small round of layoffs to its product team - TL;DR CNBC

Snap conducts a small round of layoffs to its product team

Publishing timestamp: 2023-11-08 18:53:26


Summary

The article reports that Snap has laid off nearly 20 employees with product management titles as part of a reorganization to streamline the company. This comes after Snap reported positive third-quarter earnings but also warned of pauses in advertising due to the current crisis in the Middle East. The layoffs were not specific to any product and were aimed at increasing decision-making speed and reducing overhead.


Sentiment: NEUTRAL

Tickers: METASNAP

Keywords: breaking news: technologysnap incmobilesocial mediabusiness newsmeta platforms inctechnologyinternet

Source: https://www.cnbc.com/2023/11/08/snap-conducts-a-small-round-of-layoffs-to-its-product-team.html


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