Snapchat Jobs At Risk

Snapchat Jobs at risk? 1000+ employees layoff? | Digital Owls

Snapchat Jobs are at high risk. One in every five employees is going to lose their jobs. Snap Inc.

The parent company of the most famous photo-sharing app is reportedly planning to lay off 20% of its current employees.

If this happens more than 1000+ employees out of 6500 at the Snapchat developer company will lose their jobs in the coming weeks. 

1 in every 5 employees will lose their job.

Those who are working on third-party-made games and other small and mini-applications are the ones who will be most effected by this decision, according to a news report published by indian times.

Snap’s hardware division can be the next division to see more layoffs after the cancellation of pixy camera drone which is in market just for a few months.

Snap Inc.
Possible Reasons For Layoff

From multiple reports circulating all over the web, it is observed that the most probable reason for this layoff is the decline in ads sales.

Evan Spiegel CEO of Snap Inc., in a letter to their staff(posted on their official website), said that the sales were not keeping up with their earlier projections.

This has become the major reason because a decision is taken to reorganize and reduce the costs.

Snapchat Jobs Layoff News: After Effects?

Even though snap kept losing its stock price (almost by 805) from the beginning of this year, these were the changes that took place after the Snapchat jobs layoff news is released.

  • Snap shares fell to 10.01$ per share which is 2.5% lesser than the previous share value
  • News circulating about promoting jerry hunter to the chief operating officer position
  • halting of investment for pixy, games, minis and snap originals, etc.
  •  Later snap shared rise by 10% and reached 11$ per share on 31st August 2022
  • Leadership changes across various division is happening at a rapid pace as part of the reorganizing

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Snapchat History
Where It All Started?

In 2011 Students of Stanford University Reggie Brown, Evan Spiegel (Current CEO) and Bobby Murphy found Snapchat.

later in 2014 Reggie exited the company settling for 157 million dollars..

Today, the same application has 365 million active monthly users and 3 billion+ new videos and snaps.

SETBACKS

However, the journey for the founders and the snap team is not as simple as it seems in the above lines..

They faced some serious setbacks all the way.

One of which is a cyber attack in 2013.

Yes, in 2013 Snapchat was hacked by an anonymous group and the information of 4.6 million users is leaked. 

News was widespread during those days, that this data was available on the dark web.

But the company responded immediately.

They apologized for the breach and took strong security measures as a result of which, there are no security issues in the next 9 years!

This way they have faced lot of other challenges in the form of lawsuits, failed business models, backfiring app features etc.

They kept fighting their way through and this layoff might be one of such moments which will pass in no time.

Conclusion
Will Snapchat Shutdown Soon?

Definitely not, Snapchat Jobs layoff is one of the cost-cutting methods the leadership team at Snap might have opted for.

Do you know? even with this layoff happening, Snapchat will still have more workforce than it had last year!

And if you have noticed, even with all the fuss going around about the layoff news.

We can still see a significantly good number of new users adding to the platform every day!

So nothing to worry about! one of our most loved photo-sharing applications is not going anywhere anytime soon!