Snap lays off around two dozen employees amid slow user growth

By : |January 19, 2018 0

Snap is laying off around 24 employees, according to reports from The Information and Cheddar. The reports stated that most of the layoffs have been from Snap’s team of human editors on its content team, though Cheddar reports some Snap employees based out of its New York and London offices were informed they needed to relocate to Snap’s main Los Angeles campus. The layoffs reportedly affect 8 teams across the company.

Evan Speigel, CEO, Snap announced the layoffs in a memo which was obtained by Cheddar, which read, “Having a scalable business model isn’t enough. We also need to have an organization that scales internally. This means that we must become exponentially more productive as we add additional resources and team members.”

Snap told TechCrunch that what’s left of the content division will now move to the company’s Venice, California location and that it will continue to hire new employees for the content team. According to Snap, this is just part of finding the right people for the job.

Spigel’s memo also explains that Snap doesn’t exist “to win 2nd place.” Despite the slowing growth and increased competition from the likes of Instagram, Spiegel says Snap will continue to “out-innovate competitors” with fewer resources and do it more quickly.

CEO Evan Spiegel announced late last year that the company is planning a redesign to help widen its base. The design, expected to be released to the US users early this year, will separate publisher-produced content from user-generated content in an effort to streamline its functionality.

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