Snap to cut 1,000 jobs after investor pressure
Snap Inc has announced plans to lay off around 1,000 employees, or roughly 16% of its full-time workforce, as it moves to cut costs and respond to pressure from an activist investor.
The decision comes weeks after Irenic Capital Management urged the company to streamline its operations and improve financial performance, News.Az reports, citing Reuters.
In addition to job cuts, Snap said it will close more than 300 open roles and expects the measures to reduce annual expenses by over $500 million by the second half of the year.
The market reacted positively to the announcement, with Snap shares rising nearly 9% in premarket trading, despite the stock being down about 31% since the start of 2026.
The layoffs reflect broader challenges facing smaller social media platforms. Companies like Pinterest and Snap are increasingly vulnerable to cuts in advertising budgets, as brands prioritize larger platforms such as Meta Platforms and Alphabet Inc, which offer wider reach and more stable returns.
Snap had about 5,261 full-time employees as of December 2025, meaning the latest cuts represent a significant restructuring effort.
The move places Snap among a growing number of technology companies implementing layoffs in response to economic uncertainty, shifting ad spending, and increasing competition in the digital advertising space.
News.Az
By Aysel Mammadzada
