Snapchat’s parent firm had laid off nearly two dozen of its employees
The snapchat’s parent firm had laid off nearly two dozen of its employees. The layoffs were numbered to around twenty-two in headcount. These were spread across 8 varied divisions which are there inside the Snap Company which includes the content division, engineering as well as the partnership. The news of these layoffs was reportedly being confirmed by the Snap to the Cheddar a few days back. The company came under the fire when there was an announcement regarding its slow growth.
Around two dozens of company’s employees were laid off who were the part of content team
The revamped app design of the company’s most popular application snapchat appears to be very confusing to the users. Since last year September, the company had laid off around 30 people when it tried to rescale its business and was looking for new opportunities for the revenue growth. In a memo which has been released this week, the CEO of the company, Evan Spiegel had discussed the current challenges that the company is facing at the moment and communicated that the Snap Company has to be a scalable business. He further added to the discussion that building a bigger firm right at the movement doesn’t add to the competitive advantage.
The firm further clarified that this move is just a part of its strategy to find out the right people for various jobs that are to be performed
The Snap Company further confirmed that the layoffs which had mostly affected the employees who were the part of the content team in its New York and the London offices. Well around 2 dozens of the employees were laid off who were the part of the content team of the company. The company further communicated that whatever headcount is left in the content division, it will now be moved to the Venice, California, office of the company and that will be continuing to hire the content team further. Well, the firm clarified that this move is just a part of its strategy to find out the right people for various jobs that are to be performed.
Even Snap is also facing pressure from the investors to grow the user base
These layoffs were something which was truly expected and they are the part of the company’s reorganization effort for cutting its cost owing to the lacklustre growth. Even the Snap is also facing the pressure from the investors to grow the user base but till now the company is being able to fumble in just a few of the key areas like the hardware. There is also one of its much-anticipated app redesign too which has been delayed to roll out in the US. Well, this app. redesigning has become a cause of worry for few of the publishers as it might be affecting their traffic too. It still remains to be seen how the newly redesigned app will be affecting the company’s growth and the revenue in the coming times.