Snap Inc., the parent company of Snapchat, has laid off roughly two people across eight teams. Less than half of the layoffs occurred in content departments, according to sources familiar with the situation. The story was first reported by Cheddar and confirmed by Axios.
Why it matters: Snapchat CEO Evan Spiegel said last year that all managers would be assessing their team sizes and locations, which could mean hiring, cuts or no change. So today's staff cuts and placement decisions, should come as no surprise.