Space Travel News
INTERNET SPACE
Snap lets go ten percent of staff
Snap lets go ten percent of staff
by AFP Staff Writers
San Francisco (AFP) Feb 5, 2024

Social media company Snap, which runs the youth-focused Snapchat platform, on Monday said it was laying off about ten percent of its staff, joining a wave of job cuts in the tech sector.

One day before it was due to announce its latest quarterly earnings, the company said that "approximately" ten percent of its global staff would be let go.

"We are reorganizing our team to reduce hierarchy and promote in-person collaboration," a Snap spokesperson said.

"We are focused on supporting our departing team members and we are very grateful for their hard work and many contributions to Snap," the company added.

The company had slightly more than 5,300 employees at the start of November last year, the company said.

Snap had previously cut 20 percent of its staff in 2022.

In recent years, the company has been at pains to compete for ad revenue against Meta's Instagram, Google-owned YouTube and TikTok.

After its launch in 2011, Snapchat became a hit, particularly with young smartphone users, by letting people share moments in the form of photos or videos in messages that self-destruct after being viewed.

It also innovated with the use of filters for shared content, but an expansion into hardware such as drones and eyeglasses has failed to gain traction.

According to website layoffs.ai, which tracks the industry, so far 32,000 jobs have been lost since January 1 in the tech sector.

The cuts are not on the same scale as late 2022 and early 2023 when tech companies got rid of hundreds of thousands.

That was blowback from the hiring frenzy during the pandemic, when companies ramped up employee counts as everyday life turned online.

Related Links
Satellite-based Internet technologies

Subscribe Free To Our Daily Newsletters
Tweet

RELATED CONTENT
The following news reports may link to other Space Media Network websites.
INTERNET SPACE
US lawmakers win apology from Zuckerberg in tech grilling
Washington (AFP) Jan 29, 2024
Meta CEO Mark Zuckerberg gave a public apology in US Congress on Wednesday as hostile lawmakers grilled tech chiefs over the dangers that children face on social media platforms. The executives convened by the US Senate Judiciary Committee were put to task in a session titled "Big Tech and the Online Child Sexual Exploitation Crisis." Tech giants are confronting a torrent of political anger for not doing enough to thwart online dangers for children, including from sexual predators and teen suici ... read more

INTERNET SPACE
INTERNET SPACE
As Ingenuity's mission ends a news era in flight on other planets and moons begins

After Three Years on Mars, NASA's Ingenuity Helicopter Mission Ends

Confirmation of ancient lake on Mars builds excitement for Perseverance rover's samples

NASA helicopter's mission ends after three years on Mars

INTERNET SPACE
Japan's Moon lander comes back to life

New insights into Lunar evolution with revised geological time scale proposed

Shrinking Moon Causing Moonquakes and Faults Near Lunar South Pole

Japan craft made successful pin-point Moon landing, space agency says

INTERNET SPACE
New images reveal what Neptune and Uranus really look like

Researchers reveal true colors of Neptune, Uranus

The PI's Perspective: The Long Game

Webb rings in the holidays with the ringed planet Uranus

INTERNET SPACE
UC Irvine-led team unravels mysteries of planet formation and evolution in distant solar system

NASA's Hubble Finds Water Vapor in Small Exoplanet's Atmosphere

TESS finds Super-Earth in habitable zone around nearby red dwarf

New Insights into Earth's Earliest Life Forms Discovered in Palaeoarchaean Rock Samples

INTERNET SPACE
MITRE and MDC team up to advance at Midland Spaceport

Starlab Partners with SpaceX to Launch Private Space Laboratory into Orbit

Sidus Space's 3D Hybrid satellite 'LizzieSat' ready for launch

Rocket Lab starts busy year with successful booster recovery

INTERNET SPACE
BIT advances microbiological research on Chinese Space Station

Shenzhou 18 and 19 crews undertake intensive training for next missions

Tianzhou 6 burns up safely reentering Earth

Yan Hongsen's future dreams as 'Rocket Boy'

INTERNET SPACE
Lucy gears up for a busy year on route to the Jupiter Trojans

Asteroid 2024 BX1 spotted three hours before impact

New Findings from Ryugu Samples Reveal Cometary Organic Matter

NASA's Scout System successfully predicts small asteroid impact over Germany

Subscribe Free To Our Daily Newsletters




The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.