Snap lays off employees, to slow down hiring in 2018: Report

San Francisco, Oct 21: Snap Inc — the parent company of Snapchat — has expelled 18 people in a fresh round of layoffs as the management is evaluating trimming headcount across different teams.

Snap confirmed it had recently laid off 18 people till the date.

“The cuts follow about a dozen layoffs in Snap’s hardware marketing division last month. The company also plans to slow hiring next year,” CNBC reported late on Friday.

A spokesperson was quoted as saying that the slowdown in hiring was “logical” given how fast the company had developed.

The company’s workforce increased from 600 employees by the end of 2015 to 2,600 in the last quarter.

However, Snap has not  asserted if additional layoffs are coming.

Earlier, in September the company had fired almost a dozen people backing the hardware division that makes its Spectacles camera glasses

“Six-year-old Snap hasn’t implemented a consistent way to track and evaluate employee performance to date”, Newstimes reported.

According to a report by market research firm eMarketer, Snapchat is anticipated to overtake Facebook for the first time in the United States  as the user growth of the latter is set to slow among teenagers and adults.

At present, the app has 166 million users globally.

Wefornews Bureau 

Total
2
Shares
Related Posts