snap

Snap is eliminating 16 percent of its workforce and closing over 300 open roles, citing AI-driven efficiency gains that let smaller teams handle tasks previously requiring larger headcount.

Snap is eliminating 16 percent of its workforce, projecting $500 million in annualized savings as AI generates over 65 percent of the company's new code.

Snapchat's parent company eliminates 16 percent of its workforce, citing AI-driven efficiency gains and aiming for over $500 million in annualized savings.