Snapchat Will Sack More than 120 Engineers
Snapchat parent company, Snap Inc, sent a memo to employees on Thursday stating they were going to lay off 120 engineers from their team and reorganize it, according to Reuters.
The maker of the smartphone app popular for disappearing images has had a rough start to the year 2018 and are now under pressure from investors to reduce spendings after analyst expectations during Snap’s first year as a publicly traded company came short of the predicted figures.
The company based in southern California will, however, offer a package of benefits to all those getting the sack, according to the memo from Jerry Hunter, senior vice president for engineering. It is still unclear who are those who will be laid off and Snap scheduled a staff meeting for March 14 to explain the reorganization and a...