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Photo: Jaap Arriens / NurPhoto via Getty Images

Snap Inc. is laying off 100 people, Bloomberg reports. Most of the jobs being eliminated are in sales, but a few are in other functions, according to sources within the company.

Why it matters: This is the latest of several rounds of layoffs at the company, as it undergoes a restructuring both to bring more people to its headquarters in Los Angeles and to focus more on new company priorities, like Snapchat's redesign. Sources say this round of layoffs will largely be the last for now.

Our thought bubble: Snap has done a lot of restructuring to its ad product, including shifting more of its resources to automated ad sales, which require less people to execute. According to Snapchat, 90% of its ads are now sold programmatically — in an automated fashion.

  • The layoffs follow the elimination of roughly 120 engineering jobs earlier this year. Around two dozen human resources staffers were also let go in January, as the company announced plans to slow hiring as it reached a point of maturity post-IPO.
  • The 3,000-person company is led by 27-year-old CEO and founder Evan Spiegel. Spiegel said last year that all managers would be assessing their team sizes and locations.

Go deeper

Mike Allen, author of AM
21 mins ago - Politics & Policy

Biden adviser Cedric Richmond sees first-term progress on reparations

Illustration: "Axios on HBO"

White House senior adviser Cedric Richmond told "Axios on HBO" that it's "doable" for President Biden to make first-term progress on breaking down barriers for people of color, while Congress studies reparations for slavery.

Why it matters: Biden said on the campaign trail that he supports creation of a commission to study and develop proposals for reparations — direct payments for African-Americans.

Cyber CEO: Next war will hit regular Americans online

Any future real-world conflict between the United States and an adversary like China or Russia will have direct impacts on regular Americans because of the risk of cyber attack, Kevin Mandia, CEO of cybersecurity company FireEye, tells "Axios on HBO."

What they're saying: "The next conflict where the gloves come off in cyber, the American citizen will be dragged into it, whether they want to be or not. Period."

Cedric Richmond: We won't wait on GOP for "insufficient" stimulus

Top Biden adviser Cedric Richmond told "Axios on HBO" the White House believes it has bipartisan support for a stimulus bill outside the Beltway.

  • "If our choice is to wait and go bipartisan with an insufficient package, we are not going to do that."

The big picture: The bill will likely undergo an overhaul in the Senate after House Democrats narrowly passed a stimulus bill this weekend, reports Axios' Kadia Goba.