Jan 18, 2018

Snapchat lays off two dozen people

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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.

Reports surfaced a few months ago that the company would be laying off some human resources staff as it prepared for slowed hiring in some departments.

Snap has also offered some the opportunity to relocate to the company's L.A. headquarters. Sources say this is part of a strategic move to grow and develop some teams that are managed by executives in Los Angeles.

In a memo to employees obtained by Cheddar, Spiegel argues that "Getting Bigger” is not the same as “Gaining Leverage.”

"Having a scalable business model isn’t enough. We also need to have an organization that scales internally. This means that we must become exponentially more productive as we add additional resources and team members."

Go deeper

Why Apple may move to open iOS

Photo illustration: Jakub Porzycki/NurPhoto via Getty Images

Apple may finally allow iPhone owners to set email or browsing apps other than Apple's own as their preferred defaults, according to a Bloomberg report from last week.

The big picture: Customers have long clamored for the ability to choose their preferred apps, and now Apple, like other big tech companies, finds itself under increased scrutiny over anything perceived as anticompetitive.

The NFL warms up to betting

Photo: Jim McIsaac/Getty Images

Starting this season, NFL teams in states with legal sports betting will be allowed to have in-stadium betting lounges and accept sponsorships from sportsbooks and betting operators, per multiple reports.

One caveat: There will not be any physical betting windows in the lounges, so they're more "hangout spots for bettors" than an actual "places to make bets."

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President Trump and First Lady Melania Trump at the Taj Mahal. Photo: Mandel Ngan/AFP via Getty Images