Peter Naylor Jeremi Gorman Netflix social reports Lay Peter Naylor Jeremi Gorman Netflix

Snap to Lay Off Nearly 1,300 Employees, 20% of Headcount, Report Says

Reading now: 829
variety.com

Todd Spangler NY Digital Editor Snap is reportedly getting ready to make a major round of layoffs, as Snapchat advertising sales have hit turbulence.

The social messaging and media company is set to cut 20% of its workforce, with layoffs set to begin Wednesday, the Verge reported, citing anonymous sources.

A Snap spokesperson declined to comment. As of the end of June 2022, Snap had 6,446 full-time employees, up 38% year over year.

As part of the layoffs, Snap’s advertising group will be restructured, per the Verge report. That comes as Netflix just hired Snap’s two top ad execs — chief business officer Jeremi Gorman and VP of sales Peter Naylor — to lead advertising efforts as Netflix gears up to launch a cheaper, as-supported plan in 2023.

Read more on variety.com
The website celebsbar.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA