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Snap Inc. slashes about 1,000 jobs

By ,
today at 2:12 PM
Published 2:19 PM

(NBC, KYMA) - Snap Inc. is laying off 16% of its workforce.

The parent company of Snapchat says it's cutting approximately a thousand jobs and closing more than 300 open roles.

In a letter to staff, CEO Evan Spiegel pointed to advancements in artificial intelligence (AI) as a key driver for the layoffs, saying it has helped reduce repetitive work.

Snap joins a wave of tech companies cutting staff this year as AI is reshaping the workforce by automating routine tasks.

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